Central Government amends Prevention of Money-laundering (Maintenance of Records) Rules, 2005 regarding...

Central Government amends Prevention of Money-laundering (Maintenance of Records) Rules, 2005 regarding client due diligence. Reporting entities must obtain KYC Identifier from client or Central KYC Records Registry and retrieve KYC records online, unless specified exceptions apply. Updates in client's KYC record informed by Registry must be retrieved and incorporated by reporting entity within prescribed timeline. Provisions for retrieval and utilization of KYC records from Registry also introduced. .....

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