The Prevention of Money laundering Act, 2002 and the Rules thereunder require every banking company to furnish details of suspicious transactions whether or not made in cash. Suspicious transaction means a transaction whether or not made in cash which, to a person acting in good faith-

• Gives rise to a reasonable ground of suspicion that it may involve the proceeds or crime; or
• Appears to be made in circumstances of unusual or unjustified complexity; or
• Appears to have no economic rationale or bonafide purpose.