Examples of Money Laundering Rules in a sentence
Further, the Prevention of Money Laundering Rules, 2005 also require that every banking company, financial institution (including Mutual Funds) and intermediary, as the case may be, shall identify the beneficial owner..
Further, the Prevention of Money Laundering Rules, 2005 (PMLR 2005) also require that every intermediary shall identify the beneficial owner and take all reasonable steps to verify his identity.
The DP shall also ensure that customer due diligence norms as specified in Rule 9 of Prevention of Money Laundering Rules, 2005 are complied with in respect of the third party.
In Rule 3.3 of the Notaries (Prevention of Money Laundering) Rules 2007 “Public Notaries (Conduct and Discipline) Rules 2011” is omitted and “Notaries (Conduct and Discipline) Rules 201[-]” substituted therefor.
Compliance with Prevention of Money Laundering Act,2002 and Rules framed there under; the SEBI Circular(s)on Anti Money Laundering (AML) and other applicable Anti Money Laundering Rules, Regulations and Guidelines; andII.
Note: Rule 9(1A) of Prevention of Money Laundering Rules, 2005 requires that every AP (Indian Agent) under MTSS shall identify the beneficial owner and take all reasonable steps to verify his identity.
The DP shall also ensure that customer due diligence norms as specified in Rule 9 of Prevention of Money Laundering Rules, 2005 are complied with in respect of the third party.• Where third party address is accepted as correspondence address, the DP shall ensure that proof of permanent address for the BO has been obtained and the same has been entered in the system.
Since the Government of India has authorised CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) to act as, and to perform the functions of, the central KYC records registry under the Prevention of Money Laundering Rules 2005, including receiving, storing, safeguarding and retrieving the KYC records in digital form, our subsidiary, CISPL may lose a substantial portion of its business.
The DP shall also ensure that customer due diligence norms as specified in Rule 9 of Prevention of Money Laundering Rules, 2005 are complied with in respect of the third party. Where third party address is accepted as correspondence address, the DP shall ensure that proof of permanent address for the BO has been obtained and the same has been entered in the system.
Further, in addition to the certificate from employer, banks should insist on at least one of the officially valid documents as provided in the Prevention of Money Laundering Rules (viz.