Following the ban on the financial year 2016-17 in the financial year, people deposited money in banks and invested extensively in mutual funds and stocks. After the ban, the government also got the information that people are depositing their unclaimed income in banks. It is now revealed that in the past year, suspicious transactions have increased by 6x. Although this figure is for the whole year, it does not include the same period from 9 November to 31 December 2016. Know when and how the bank accepts your transaction ...

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What is suspicious transaction?
Banks and other financial institutions are informed about the suspicious transactions, the Financial Intelligence Unit of the Central Government. It does not matter if the personal transaction usually keeps up to Rs 10 lakhs from each other. But, after being more than the figure, it is investigated as considered suspicious. This is not the only example of suspicious transactions, on many other grounds, financial institutions may question the transaction as suspicious.

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18 million suspected transactions cases
In a statement in Parliament, Arun Jaitley had said that after the ban, 18 lakhs of such transactions have been identified so far, which does not match the depositor's profile. Now these people can also check the screws of the investigation.

According to the Financial Intelligence Unit, such transactions are considered suspicious:
Amount of Transaction
- There is a lot of money to be deposited in comparison to the amount usually deposited.
- Unexpectedly more transactions than a person's financial standings.

1.Activities in accounts
- A little different activity than last transactions.
- Accumulated sudden amount in the inactive account.
- Suddenly large amount deposited against declared business.

2.Having multiple accounts
- Without having a rational argument, the same person has multiple accounts. Being an intruder or an authorized signatory.
- Transfer of funds in many accounts without any reasonable reason or reasoning.

3.Nature of transaction
- Suspend the fund's source.
- In case of insider trading
- The amount of investment transferred to the third party.
- Indication of manipulation in the market.

4.Transaction amount
- Transfer from large amount of money to any account from abroad for the purpose of payment.
- Volatility or large fluctuation in the client's payment pattern
- Block Deal. That is, buying a lot more or less in comparison to the market.

5.Client identification
- Opening accounts with other matching names from other established businesses.
- Due to verification of documents at the right time.
- Non-face to face client.
- Doubt about the true beneficiary of the account.
- Accumulated wrong documents for identity.

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