<h1>Banks Must Report Suspicious Transactions Under Money Laundering Act; FIU-IND Shares Data With Law Enforcement Agencies.</h1> Under the Prevention of Money Laundering Act, 2002, banks and financial institutions must detect and report suspicious transactions to the Financial Intelligence Unit-India (FIU-IND). FIU-IND analyzes these reports and shares information with law enforcement and intelligence agencies. An online system facilitates the filing and dissemination of Suspicious Transaction Reports (STRs). While FIU-IND's information aids in addressing tax evasion, it does not always lead to its detection, and no separate data on tax evasion outcomes is maintained. Coordination among agencies occurs through Economic Intelligence Councils. This information was provided by a government official in a parliamentary response.