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FM/IT Equipment/2015/002FINANCIAL MONITORING OUTBIDDING DOCUMENTS for Supply, Installation, Maintenance & Support of IT Equipment at FM(Single Stage Two Envelopes)JUNE 2015Financial Monitoring Unit
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Financial monitoring unit is a government agency or department responsible for ensuring compliance with financial regulations and detecting potential financial crimes such as money laundering and terrorist financing.
Entities such as financial institutions, money service businesses, and casinos are typically required to file financial monitoring unit reports.
Financial monitoring unit reports are typically filled out electronically through a secure online portal provided by the relevant government agency.
The purpose of financial monitoring unit is to help combat financial crimes by monitoring financial transactions for suspicious activity.
Information such as the parties involved in the transaction, the amount of the transaction, and the purpose of the transaction must be reported on financial monitoring unit.
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