9911796707
TMI BlogAUDIT OF REPORTING ENTITIES UNDER PMLA, 2002 FROM ANTI MONEY-LAUNDERING, COUNTERING THE FINANCING OF TERRORISM AND COMBATING PROLIFERATION FINANCING PERSPECTIVEX X X X Extracts X X X X X X X X Extracts X X X X ..... ring ( Maintenance of Records) Rules, 2005(PMLR) and accordingly, the Principal Director General/Director General, Directorate General of Audit has been appointed as Regulator' under the Prevention of Money Laundering Act, 2002(PMLA), to work on behalf of the CBIC for these two sectors. 8.2 The Regulator has prescribed separate Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Combating Proliferation Financing (CPF) Guidelines for 'Dealers in Precious Metals and Precious Stones' and Real Estate Agents' under the Prevention of Money Laundering Act, 2002, the Unlawful Activities (Prevention) Act, 1967 (UAPA) and the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A and Section 12 A of the WMDA apply to all the ' Dealers in Precious Metals and Precious Stones' and the 'Real Estate Agents', irrespective of any threshold of cash transaction or annual turnover. These provisions are related to the entities and individuals who are subjected to the United Nations Security Council (UNSC) and the Government of India sanctions measures related to terror financing and the proliferation financing. The Details of such entities and individuals are regularly provided to all the reporting entities and other stakeholders, including the Centre and the State GST authorities, immediately on receipt. In this regard, the relevant procedures have been prescribed under the Orders issued under Section 12 A of the WMDA and S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g of terrorism (CFT). (iv) Checklist for Audit: The aforesaid guidelines for risk-based supervision are supplemented by an 18-Point Checklist prescribed by the Regulator. These checkpoints can be changed or expanded based on feedback received from audits of the reporting entities. S.N. Checkpoints Remark 1. Whether the Reporting Entities have received the Guidelines for Reporting Entities under the Prevention of Money Laundering Act,2002? (Yes/No) 2. Whether any AML/CFT/TF/PF policy and/ or procedure was in place prior to the issuance of the Guidelines by DG Audit as Regulator? (Yes/No) 3. If yes, details thereof. 4. Details of Principal Officer and the Designated Director? Whether appointed? 5. Whether recor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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