Money Changer Compliance

These are some  Mandatory Compliance for Money Changer Dealer:

• Summary and Balance Book of Foreign currency notes / coins in form FLM 1 on daily basis.
• Summary and Balance Book of Travelers’ cheques in form FLM 2 on daily basis.
• As per form FLM 3, register of purchases of foreign currencies from the public must be complied.
• As per form FLM 4, register of purchases of foreign currency notes / coins from authorized dealers and authorized money changers should be complied.
• As per form FLM 5, register of sales of foreign currency notes / coins and foreign currency travelers’ cheques to the public in form FLM 5 should be complied.
• As per form FLM 6, register of sales of foreign currency notes / coins to authorized dealers / Full Fledged Money Changers / overseas banks should be complied.
• As per form FRM 7, register of travelers' cheques surrendered to authorized dealers / authorized money changers / exported should be complied.
• By 15th of the succeeding month each month Cash Transaction Report (CTR) for each month should be submitted to the FIU-IND. However, details of individual transactions below Rupees 50,000 need not be furnished while filing CTR.
• Within 7 days of arriving at a conclusion that any transaction, including an attempted transaction, the Suspicious Transaction Report (STR) should be furnished.