9911796707
TMI BlogKYC Norms/Anti-Money Laundering Standards/Combating Financing of Terrorism/Obligation of Authorised Persons under PMLA, 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009- Money Changing ActivitiesX X X X Extracts X X X X X X X X Extracts X X X X ..... h 4.4 (e) (i), 4.4 (e) (ii) and 4.13 (i) of F-Part-I of the Annex to A.P. (DIR Series) Circular No.17 {A.P. (FL/RL Series) Circular No. 4} dated November 27, 2009 . 2. On a review, it has been decided to amend the instructions contained in the said paragraphs. The amended instructions are given in the Annex . 3. All the other instructions contained in A.P.(DIR Series) Circular No.17 {A.P. (FL/RL Series) Circular no.4} dated November 27, 2009 shall remain unchanged. 4. Authorised Persons should bring the contents of this Circular to the notice of their constituents and customers concerned. 5. The directions contained in this Circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt to or less than Rs. 50,000/-, photocopies of the identification document need not be obtained. However, full details of the identification document should be maintained. If the Authorised Person has reason to believe that a customer is intentionally structuring a transaction into a series of transactions below the threshold of Rs.50000/-, the A.P. should verify identity and address of the customer and also consider filing a suspicious transaction report to FIU-IND. 4.4 e (ii) For purchase of foreign currency notes and/ or Travellers Cheques from customers for any amount in excess of US $ 200 or its equivalent, the identification documents, as mentioned at (F-Part-II) annexed to this Circular, should be verified and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... within a month; and c) all suspicious transactions whether or not made in cash and by way of as mentioned in the Rules. APs should introduce a system of maintaining proper record of transactions prescribed under Rule 3, as mentioned below: a) all cash transactions of the value of more than Rupees Ten Lakh or its equivalent in foreign currency; b) all series of cash transactions integrally connected to each other which have been valued below Rupees Ten Lakh or its equivalent in foreign currency where such series of transactions have taken place within a month and the aggregate value of such transactions exceeds Rupees Ten Lakh; c) all transactions involving receipts by non-profit organisations of value more than Rupees ..... X X X X Extracts X X X X X X X X Extracts X X X X
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