Taxmann's Money Laundering Law Manual

Contents PAGE

List of Notifications

I-9

List of Cases

I-17

DIVISION ONE GUIDE TO PREVENTION OF MONEY-LAUNDERING ACT Background of Money-laundering

1.3

Obligations of reporting entities to keep record and furnish

information

1.15

Authorities under the Act

1.32

Search, seizure, impounding of records

1.41

Other provisions

1.52

DIVISION TWO PREVENTION OF MONEYLAUNDERING ACT, 2002 Arrangement of Sections

2.3

Text of the Prevention of Money-laundering Act, 2002

2.7

Subject Index

2.69

DIVISION THREE RULES & REGULATIONS FRAMED UNDER PREVENTION OF MONEY-LAUNDERING ACT Prevention of Money-laundering (the Manner of Forwarding a Copy of

the Order of Provisional Attachment of Property along with the Material, and Copy of the Reasons along with the Material in respect of Survey, to the Adjudicating Authority and its Period of Retention) Rules, 2005

I-5

3.3

CONTENTS

I-6 PAGE

Prevention of Money-laundering (Receipt and Management of

Confiscated Properties) Rules, 2005

3.11

Prevention of Money-laundering (Maintenance of Records) Rules,

2005, as amended by Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2023

3.17

Prevention of Money-laundering (Forms, Search and Seizure or

Freezing and the Manner of Forwarding the Reasons and Material to the Adjudicating Authority, Impounding and Custody of Records and the Period of Retention) Rules, 2005

3.57

Prevention of Money-laundering (the Forms and the Manner of

Forwarding a Copy of Order of Arrest of a Person along with the Material to the Adjudicating Authority and its Period of Retention) Rules, 2005

3.73

Prevention of Money-laundering (the Manner of Forwarding a Copy

of the Order of Retention of Seized Property along with the Material to the Adjudicating Authority and the Period of its Retention) Rules, 2005

Prevention of Money-laundering (Manner of Receiving the Records

Authenticated Outside India) Rules, 2005

3.81 3.89

Prevention of Money-laundering (Appeal) Rules, 2005

3.93

Adjudicating Authority (Procedure) Regulations, 2013

3.99

Prevention of Money-laundering (Appointment and Conditions of

Service of Chairperson and Members of Appellate Tribunal) Rules, 2007

3.117

Prevention of Money-laundering (Appointment and Conditions of

Service of Chairperson and Members of Adjudicating Authorities) Rules, 2007

Prevention of Money-laundering (Issuance of Provisional Attachment

Order) Rules, 2013

3.127 3.133

Prevention of Money-laundering (Taking Possession of Attached or

Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013

Prevention of Money-laundering (Restoration of Property) Rules,

2016

Know Your Customer (KYC) Directions, 2016

3.139 3.147 3.151

DIVISION FOUR NOTIFICATIONS Notifications

4.3

I-7

CONTENTS PAGE

DIVISION FIVE CASE LAWS DIGEST Case Laws Digest

5.3

Subject Index

5.35

R RYT Y K D Y

= N R G O E Y OE T C N EUE N E O R E C N BAN I P P AA2!

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L N D $ R

N A N G A N I LI N ) PR O N A O SR EI"N EOI U 5 YI I I UE POFU MK ETT T C T N O R D S A ) S U KCE O N R NBN ON OL E , & P A E E ADU N C

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T B EA D) A E H@ $R EO I $R @ T I F , N NN Y 0 GF A D P T 0 OF NY ASOO UO I E R I Y N S T T T I O E G O ) O N N Y R L N U C I T N H P E A N O S ES E O F N C T T I PEO APSO T EDI I GO R K A I N D N P D R M N A NI N N R TN I EF I I O C $UV 5O OAF M IO R T O I I A R T T EE DN EW CNO O T

OSC T C N E VD C EV O DE PNE N T OR NS G N I O G N E I A S ER I G N V CE I EH TR O I ; G NC R I NT GT K RE @ T *

I D O O I N T R I E SN NDC LR NY PN L E K!F 0 L E N A R R OE PE E U V !

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R lE EH NT EO BR RO OR T TO N P ES I L S C A FP O R YO T I Y T L N L EA DN ) O I T P O

R E B M U N R A A H D A !

H T I W R E N W O L A I C

1.15

2 R E T P A H C

OBLIGATIONS OF REPORTING ENTITIES TO KEEP RECORD AND FURNISH INFORMATION

2.1 REPORTING ENTITY SHALL KEEP RECORDS AND INFORM AUTHORITY ABOUT SUSPICIOUS TRANSACTIONS -

-

-

-

Verifying identity of client or beneficial owner with Aadhaar or passport or other document notified– -

3 % ) 4 ) 4 . % ' . ) 4 2 / 0 % 2 & / 3 . / ) 4 ! ' ) , " /

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T L l # H G R E Y A E G ) C A I T E I WO R 0 V H CDH B H N E FN I I T I OPAISL C L E H W T S O D S D Y I E E H A T.H T C N L G UDR SN U L HE Y EUUNBRN A D D S OBW T L T HDE OSEI EL I T OI I U T O ITDE A L YV HA G M T I H G U O L T N O R3A T HAI NDO T E I R T !N I UF #RO NR DSOSTDTR Y P N I FI ) N ENT 9OTNO R F )E P A O O S I # R E O !

N T I L R R R + N R E I A T 0L GI R N EIE T E MEEOI T A A C I A A E #LAB L B.C$NT ) A I EB C F E U D C T SCI T M O ME

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0 N I T S D E E U T DEML S EHD L P E E D A H G L N D U Y A B C D H !

U E T S EAI S!TUANS N A U T N N E A T H L O A I B I E A R T 3 UAOFR L A R O Y L T

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N UHAI T RNUNRI H IO E A T P L O l W A O D C N N D I O L P N H I D I P AT I A PE N A OYTE ET T T MT N F I HA N HRWARR BC ANE A DC E R!R SA) UGWEA OC B O ) I T D Al Y

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E N T F. .O HH L A !5E !T H DBOC HT O A L Authentication of Aadhaar using e-KYC Setu system to verify identity of client or beneficial owner vide

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3 $ 2 / # % 2 0 % % + , , ! ( 3 9 4 ) 4 . % ' . ) 4 2 / 0 % 2

Para 2.1 1.17

TNSL A A OAI S HI H C T T T N N A YA EC E T R I I I N L UT T lC N SN S NEE T EH EI H E T LU T F L HT O A HATUY STT T I )UAOT H Y #OT N R 0GE R E N A .I D R YUCI ER R SOT E S A OANTC PCEDI RROET UOSRN L I PFA E U S H ST LQT I NL E H EARU T H RMS FA I OE O )ET F R# YI S T U0CD N I T Q .

AN N E R E

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G I S S N E A D E N M O

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A UL L T I R D WE I V T DA ON T D GA% N I T

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Business relating to virtual digital asset shall be activity under section 2(1)(sa)(vi) and will be held as ‘reporting entity’ 1 sa vi

Related person and Practicing CA, CMA and CS carrying our financial transactions on behalf his client shall be activity under

RRY SY E ER Y G Y A S A O T T T E EO N I I I L E DN T F T I L L N I I I S C NV OA I W I N P M B B I E U T M M S O O! I A A C R R M I L S I I I U T O A , L T L L D M O B O N AC D N OC AAD &N F A E A R E A C 0 S U O T SOT S I C A R F I S

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C I I I T D U T O S O C H N O E E F A O B S I S NM S IA O N R NE R EMR AR AYE T RD R O A E N C R E H E RN F DN RNT D RP I OR DT AO E A A O F C S T O N R E F G F R NA N PO RR FP A FE

O A E A G UD E G H O M P DOP NR GT T N T N N E I D% HRN O O S O E I O I CT Y G G E WEO T U G CN R I N TR NI I NS E N O NA HI F L E T A A T I

I S A T C T S T DI AUT AR R B

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D H I E CF GET T T P R L S S E S S I S S BO AR N E R O XR A M AE G S AR ARNR IO O H O O E E E. N D C G E GE I CL I N I FP GN GE V T NNH NR T V T I AN IOR NT NS A I I I I O N A W O S R R O T T TA T U HI F OR C N C A C C ROA RI T O FA H L P A L A O AO P AOPP PT AS SA L NC O HE I H F E OF T I

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3 % ) 4 ) 4 . % ' . ) 4 2 / 0 % 2 & / 3 . / ) 4 ! ' ) , " /

T RS R S G Y Y DSYO

T DI E TONI N N EN RR T N ASN EY A A U M OOO E FI R L ON UN CHT E O O T E E O T I

LG I CT 2A GBI R R U F A T I UCA

N D A C I CARN C E O L E D S E NL A S E N B S D E E I P AES I I O TOMNRT R NS I I T I D R RAEA CON H D F S SD E RN UNO WE R UAYCO TN V U S N % E I E P E OGN T R U P O S Y NOR A OR I RT GI ET T ET0 I NY A MORR ECF RV I U S C E I K Y

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I N L E KOT O SC T EN DC NFANA NEGASETHN GOE R N S R S O N I N B API A T ; S C I I O C T P T

!EGFI S A A T R O A T E C C O YI S -RNTU N I T !

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P F I I #IANBS L I E I A T E I T T M E R , R R N B I O @ !N MT T AE. S #E ENNI I A D A L O S L

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iii

g

f

c

b

d

e

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a

1.18 Para 2.1

sa vi

Persons involved in company formation, running company, trust etc. are notified and will be held as ‘reporting entity’ sa vi vide

sa f

i

ii

3 $ 2 / # % 2 0 % % + , , ! ( 3 9 4 ) 4 . % ' . ) 4 2 / 0 % 2

F ES FT SYY ES GN NFEE D DETF NNS E Y L O N O O O A T D C C E HA NI E E N O A O O C I D U G E E R I T T I I R I GNNN FE TN D R FT T RO T T A X ORN L WT E E O A N O N A O N X E C M A T CH RC

I NGOD OC EADA R E C R E R A E N R T I E E G N L T I EL O HY S E A R L VE R

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I I I OT N ES A C T I MHE H I EA O I T SI C YT

A E H T R T N T D T E I C S N Y N A ETR HP OA E H Y C Y E GCN/ E E F R F W E N M

E N N N A T C R I H !

H R N S N 3 I O O O I V V O F A A E P C T O DU T H R L

P I E E E N E C U T E V EP T FEANX PT MR N R PRR I I N R O S E A I E E R N O A D I MO F 0 OT ET

WD&0 G OD I Y P H H I A I C E TAOT A R E T S N E T F NCN E EI

T R R R U E I K A D C G H B O

N S R A R A O A O R L A W T

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L Y I L C @ I T S E Y E Y W L N YEOE L Y O U V T N B O I A R N O T R D I A B S N ; T N I I I O

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= T SV EN$ N C C B I F I R I

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N A LD S P !

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N HE E R I I E I I S - V D I = RN A Y BRR NAN U V O T I LIT V AE D ET V E BR N0 I E E I IL T UO I G FUOC EE DC T T E L T P D D LF T V P % N L SF L P C C C N! SNA C I DE E MN O2P! NR A P M U O I I A I TS A

W L N AE RHO AEN

OOI MUG M SAG U0 I S F = E N N YA Y Y Y S N A Y C F D D EO R

SR N YF T I I O N I E NI ERE CHF# S NE F R R T

I O D E O AAWO A MCD AH ANO HOT E E O L I F

R N I

T N / C) D D N T O S I I I E N N S 3 O V E

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2.1-2 Intermediary

fa

fa

n Explanation

d

Explanation

Explanation 2.—

fa

vide

Explanation 2

Para 2.1 1.19

Explanation 1.

a sa vi

-

a

b

c

b

3 % ) 4 ) 4 . % ' . ) 4 2 / 0 % 2 & / 3 . / ) 4 ! ' ) , " /

1.20 Para 2.2

ROIE

= E I STGE KLCDCNH NOO !A4 U F S T L S AR NH C A BO OC N X I T TPYIT E R C O

A N A K! L SU ERI L C F GEDA T GOGE IET AR

M)ETNW S I RW 2

R E R) D E R F E " D E T E S DE S NDT%CI NT N A ANI 3 NUT R R R T U G I H T E NOAM T ERHI OC,O R T W E EYN # O A R EE HK D L NE EDA SNYR N A RLOB BAE TAD-E DS TN RN IWNFV E KAAGRAOA OHREO!NH RCER&$ E OS D S BRI R& I T E KEVNE N H CMDAD0E T 4 N Y O AE V E T T ER

KUBR S UNR D E SEA D AS E0K E M T SI F S O N N TMI O R I AOSSN O B E ETEI GP R NB MAVT IOP U N RIRCA S T E U Y S

T R @ Y I C R

N R G E A R EEENA E I N D R MSOIO D H I E E I W T T ET I A MEG C S RUAWIMED C S S E N DOR; S R E T I S A E O T N S SW T OMA N ) A E T I @ -

-

TE FSDN Y DO P N E R E O M O ER T N T AI 0 T E C C N MF O C T EE M S E T Y F M Y E F R S MS AO T ; E A K PC S EYS S M Y C A N R A E B S A O L S OPDSI

T B

U E T T D S N

GC L T T E NA E

HR A N R N O I CE NI R E M ER N I I E T P V A Y O M PI HO EMAO= A W R O T Y T L C R P E E C AC A OC T E P N M P !

L A S G H S I O E Y S ; OE NS S MG R WL E I E L V TDIN FB R S I B NA D L N R P SE A AO OI R U E EC E V L SC OD NVM UA C R E N N T S E N NH I TIYI NN E I R PP U A ABOA Y

E Y VE = H I AS 0 N T R DT T , AN C O A A

SA I I SR EO ! MC NE MN T EY L E A I U S EO M B G E PN TF ER T I H S I N E I O S E O S T E T MV I Y NTA S T R R I N ROE SEFRE- OH ) OSD ABOEFF PW L S S P T L L L N I A NO L N A A A O H U A O I R AN AT D R C A E S R D O NN T N PE, ENOR I E I T A Y ODY MAEAE ED N

N C UE C I MRI ML E NE ST E T & OV ER ECN EYVI @ R E O N D B T T A E E I F S S EMR S V 0 O N Y R D- YPT N S S S A C A NF T N N NF C O T AO N O NEGOO T C N I I N T

E T B I E MN EEMI I R O E L M A R N B E I O MET S I T YWLBR U T L T F Y E A N T A L S

T A E HI AY E NP E 0 R E $E 4W 0S BS V @ EO

2.1-3 Payment system and payment system operator

-

-

= FE REY E ET T S O S B H C C OHE NT I ETTN SR !

A D NPNC O DG L R R E T U OMNR E N N I FA O I T OOID R O F $ C C H N TE O S ACY U EN D S O S T L S N EN T L A NNA T I Y O O L U N AI D T I R DC R A EL EIT TG R T I M N A C , L N E O M I LA E C OE L T Y STRHV N A R N E F E T O E O E FWN U FNIF R A S S D O O T YI R R NNA0 E T F A DTOI I N T EBF RHIE=F N O Y OCTB$O SO E C CUC N A E .

D N D ESS T

O V L ) O I R I P

I RNU I DE FTN T E AO5 C NH R K ) N R I H& N OAE TT A A S E F E T V FS;O NE I B D N HO N DA I AT R E O C E W S D R A I 0 I N E T L N E D T I MDI F I U A NS FO A R A O T O EE T M) DB N H N SR L TE

I N I S I I U

AO A R M N A O OC I RF5I MN MT

T HS N O A N I SEOI E D T E S E R N O P A B S B I Y OECE H T E B T M N I S D C D I C 4 I T E L T A R L R E C U G N C O UF; S

EEARIS O F OOY T L S E U L E N C H H GLNHE E T R ! SI S I T NAATTP T V O N R I G SE SAN T T H ) D D N D D E R N H I 4 R R I L ONEC R G L H O R O A

PAG O T N E C D C E NAII I E C E E E T N I R NWD EI R R R R @ S N O O F U O A I T I E U ER ET A TA T P NC HE HC HA FD& I E 4NO E !, 4V 4AR

2.2 KEEPING RECORDS BY ‘REPORTING ENTITY’ AND INFORMING AUTHORITY

-

-

9 4 ) 4 . % ' . ) 4 2 / 0 % 2 @ 9 " 3 $ 2 / # % 2 ' . ) 0 % % +

Para 2.2 1.21

E DD D T SV E ET EN A I I U N R BA UA S I I S M R D -U S , L C I A C

S Y RX 3 N

E E E E R E DE L E PN

E N N B S T EO I I U O

BC E, V R (O LF V=E L I A! $ O G X WN

H .E RA I O ) NO S2 O D O I D OT 5T 2 N R L I F N T I )R

A A U O & E D2 I T ; H MV F ) N# T

AC RE E

A I T OR R

0 D

I F S P $ N $ N F $T ) G I T 3 O S .

N H ) T G A I I

) N R N O I D E 5 5 H E D. N ) SO T

N I EN & U S N I CI

N T RC O N A

O R UE L EPI FS O E S P G I YU T I F; I A E H L V C O L N T L N E O E N E EN E R T O ER I R V $ M N EP $ UE E ) DM W LBE I2 S EN A T S E E F I CR N A O H S. A C OE H T I N T RV I NN ER SR AC PO E E N D' I ND SU O M = E P LT & NA AN R

A ST E C AR R

RNU DY N !

I A T RN O& S DK IP

E L G R A T A E NEN FE E C N D O N#I E $ W EA U I R R AYE YO H H I Y R -B D $T P 4# 'B -

-

vide

F F HEREGN O SGOHNO O I I T A D NSTR T C T N C CA

E R

E I E DS NHOS P O I N C P S NU TX O T E I M O T E

R S A A F O IIL

N T N E E N C

P O I

E EGUAYI

E I DILSETW S N E A A C RRVNOND E N E OO A A E S R T M H L LFG T R G U P A I R E F NI L A XS I O O W H L I D N % C S K A I NS NI L S T E R L O I AR DI C A U NL HT D OCH ! O C T I RI I G G T Y AT N S WS R COH I R E YNANA R I A S A L O N C NI R

S E P D T AT I P A N O N C E R A T O A U AYT R I S N

D E T A C AYNH E , A R S NAT I Y R S NBAT E E U N A R Q C R N A E E E E T R M R T T HH O N S D S UNTW O I U N F R E G O I YN OOOHON O M F I T I T I MCEIN I T C C A T C O AUUN C N E I A T HHSNA EA S P N E S S NCC D N GN @ E VI

AUU V NA F EF S S R S I O R R TE T E T @ T R S F G R G C D I N 0 O OD E M N R N N O I I F T PE I O A I R S D F D O T R EI T E I F I E E E R T R C I ! TI N I R E E E C EC EE E T ! EF CMT P HP R HE X X EN 3E 4S ER IO 4D @

2.2-1 Duty of reporting entity to carry due diligence in case of specified transactions

as may be prescribed. -

as may be prescribed’

SNE SE H DDRN EE C ET I ORA$ A I F 3 E I N I E U T D I G C I Q A E F ERDD N T E T O A P4 N E B R AO G TE S NOR SC N C H T O OA EN I HI CRF 4 CTT ME UAE A A EG SHNUCDR I S E I E CL A F L O I NI GD"T T D A N A R I I E T H !ST E MD K CVND E A E E EEEA I T MC R H J D !

T R N B T I E O OA E S F UH DRB CH NO S E EN NDUDWSS 3 HE U N N IO R T SN O G AE U R T I E ON N RVHI S N I T H E E WV E NW RW IOTN L I O / O NR T C OL A I AOOP L D E R ( C O SR M I PF N H R T E E E TNAH P L D

F L LR E CD O N A HAU AU I E HU T S C SB Y SN U FR T NNR I AA IIOE T YE N T N CNB I S N EYI E T OM O N DB& R I I T U I ET

N F P A N C EO O E T C GA I HT R I YCBT NS A I N TCR!YNA T R A YAE AEH S F V S OR I HD NI MT E L PT RA CSU E A E ED 6 I R$ V AA! R T E I F YI R C E E VP %S

2.2-2 Enhanced diligence by reporting entity undertaking specified transactions

a

-

-

c

3 % ) 4 ) 4 . % ' . ) 4 2 / 0 % 2 & / 3 . / ) 4 ! ' ) , " /

LH TY ENFD EENG DS DN D A SN 2 O U K H H N E C E O E O O N I E EA I T T T I C AI lI l U AO 3 CL M

T I T T R N A I T I I N R

I S DC A A E R T T R D O C D

V E ' A S A C N C A O O D I E RA R V B N N EA I S lT N N D N O T E

I

I M F

N C NU NIN% 3H T

N D T N E E

A N

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E DFD R EH R R I , N N E LEE NOO T E

T E L D E R B

N

I OCEY AY BU R AI ) M L 0 T T A W H

EO E SI A WA PC I E S T S T T I V N R T EO U DOA H I DN A N AA D F EANO EO HR EPH SE QH. E C A H E H D T T E M I R B R I N T T NDS D A A A ET T N I E I ,N AH FO EIS E DE! R F I WO NF O M D 5 I T 3 C "EE S E D D C T O T E I H W S E A $H A NAA E I E % ! , N D E T STO F H O T C S R )

B ! # H R

A I O E E U P l E T C I I P T

F % )C ED I R P T N

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D E I A , " T O E H F R I

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P U C O E N T O E K H

S $ N R T E I 2E N BSS O H A .

BT

EF C V 3A ET I T OR UC UNT I .H 2 / H NF YENE I H O D C O T I R R T

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A F N E E U

I O L 3

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R . T ERC ST R O

N N A O S C DT /T

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DI TOR SUH! N I T D S U O S

S !

P T P L NO E CA T I YO I E NT! P

S E T S T T AI N U I C I T A T G T OF F A EGE T A

E T T N I I LA I AT N O I T I N A CDE TNB SCO E A

D T T I S E N I C E I C I l N L NNNR D N DR I C D LDY A MEl I F RE RE) E A % E A U O E T N W O NI U I H D N I I D I Y T F HGD VT ARR GT O N NLM O T H D A A N O O C U

NERE T NO N A OC E N I N B

E V S I

E A 0 T S N .

U E U I I T I A ' I I T R I

T E T B

YA A & S CR I A AT E D R I R

R L T

L F E A On H N DNR DED EC SOD ERI A E S O S U P ,ARY NPE T/A DOE ASDSN O A O R C E N E I Y BE P % O E

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O R 3 H I I N T L $ I H U P R I N I

N R R E E T I L

P V M D T E T R F

@ R T T S

E R A 3 O A K K R T O A U A C C U O A V!

O SE HE AS .!

N. AP AP N M T I .A !- P! C T S ) SB 6A @ L I

b

1.22 Para 2.2

vide

YN NT O OI I I T

T T N C C

F E EES S E G

N RI E TTW DR D NOUE T UPOR EDE NR ES WEIN R R OHA I DTC T C T DC I E! !

A BG L N SGOI NNT R OINE R I E D T ON I DT I D NNCU OUAA CAS, E,NY HYAE R E T T N LND O I O F E L I U F F FFC I O OO EN T N P SO O SI L I I T T A EN N F H E TET V N V E EEWR I R O0 L 0L L C F EFA HOTO T O N

E

R

!L L! E !

H!A H 7 S

2.2-3 Transaction not to be undertaken if conditions of enhanced diligence not satisfied

9 4 ) 4 . % ' . ) 4 2 / 0 % 2 @ 9 " 3 $ 2 / # % 2 ' . ) 0 % % +

SEEGDD NV R E N E L U I T OO BR D I T I T E V U URS C C F N L AI S N C S I E E N NOH R I T PC ATT R T YE E! T L N B G DESEY K A I N L EL I EC AR I I F RR ME I C C NESD H EOI S A T N PU L R U SO L H E A A FI T N I , H O C N W I S SP Y A E SY M E P I T U I N R I H ST E HO NSC S D N EO URE OR F GISO T E N N ND A I I L N OS I S T E I O T NRRNT I C OO ON S P I AC ESTE S C E NSRN V A AI E S I R TES R N0 H T N U A ETB DI R F T EC LEER O I F M O H I A

C T I Y

E R N!

PYCFI T !

SBFOU

YNOGR

NE NC AKSIS N R D A R O

ETEOE I R T R E T

I T E F E C CN A

D HN E O E E

S ROR 7U W PMG

EGF

CNO I NR

E!

EE T !

A GD

I L ND I D UE EAHN O I U,TT

DYMC

F E DEOS E ENR

COF YW N ST ID A-R HFATT E NOENR ENYEE G O EN S EI V N T HN I T I I T F R T EF GV OC NE P O !

I E Y R D R G L 0O P EI N I PFR HR T AOE E E PDD L

N I N AA !

H U RTA W!O N D FE, I E L Y NNDC E E O I NAN I A T I T NO C A B E T E OS EN F NRIWO A E T OD ME I N T B N A O E I N MUBO T N RSLI E T OEL R C V F UAA H E N SS S R I N 0 EATA HEC F RO 4M!T

E0 LA LA LDE EG N RE A R V B 2

N E O I # C R UT A I C S EA LI) R E 4 E T R L $ H

I I C DNSOOS$ E U F R

E .

W M & EAN !

D T S I

O N R &I 5 E DN0 L N UOKT G

A N !

R U YFYRSND I U NL I P A A O C BDN I 4UN E CA) C N C NO DNAG OA D R," NI A N A N C D 2 Y ES A TI OY/ NTE AU R S AE I N I I N N G OKOET N# F HNI I & E I PNPBCA & O D C H D M OAES! 7 E A-E C G RBRILL I E P !

I N A

PSD#I O H T F FI S I S E A P T O 9 N C E W YR R T H A R EN I L A IA+NT S L T E E R L U A S AAT CI BO OC W QT M M NE E N I N I F L T I NWI R ) N O B S G N R UO&TYM E # I N @ # U L E TO E R A .S BR A 9 PO VB O)C

A I N

E D + G T C S D S!A OE R S NI C R EA A F 0A TO R 3 OWT R U O W5 H S T S R SN OAO0

R A N E E T S L

N P N E G A ) I S D O I KRPO R E NMT O R E I N

T O T N U T P V I

UA OSNN I ST N E O R T A O G T I C VI A SO TI U I S HT R R N F UNTHI# P G T A OO S I H

I E I N I R S R G

C LPCLI R W I M E R I E A T A R U N A V H D E H U NOORA R 0A L T E E T F C O#I E T O DGCW$ O I N N O R R A T E L N E & &S A OI DED A A COF A 4N 4E NN M LL DD A

P O ! !

S RA N O O I

I L I E &L ROTNM&I A M T T O

E UTSI OFA V O N 4D S N O T E S D I C N E &U SE. I C FNNOA SR H I U N A O R ) N #S R O E T R 4A I TT OG RIE T C D S I SS & L AE BN MI U I G & E S T I U S T T N SN E M N K 4 #OI C N A I P L I T .

I E S !

R E R 9E V S A EU A Y& I OE 5 I R NT R M 2# +$I 4G B RB T

-

Combating Financing of Terrorism

Para 2.2 1.23

2.2-4 Closer scrutiny and monitoring if specified transaction appears suspicious

2.2-5 Information in respect of specified transactions to be kept for five years

2.2-6 What is KYC

e-Aadhaar card as valid document for KYC

Financial Action Task Force (FATF) Guidelines

3 % ) 4 ) 4 . % ' . ) 4 2 / 0 % 2 & / 3 . / ) 4 ! ' ) , " /

EY YNS DF R E NOMT EO UN K AI C N E T SO SO RN E! OA I OED L F C V G NT L S F ON LEEN I E I O H R I R A D V T C0 E S E A N S R NFAD O T M T 0 I I AO NC T N R U C!O E N F O A! F =!I R O E T , G E $ N V N I HE

. AYI R

W0 H R )DME !

R E S N I TF 5NO

P )AFOD N EO N & -N R C ; I U UN F A

X O F, RO A E! I E OI T

D HNY TC L N T A E Y E

) O O I S T T T IN I T N R N Y O I S N O O N EI N R D 5NAE- HE T O V I T C I F ET DEF UN E N C CE NRO AN OS NS A0N GA C O ER F TO NM I GE EW T C I I D T L A L D!SN R N BL T E E O NGEV L AC L T Y S P U A N E E NO N E! H ) I A DR PR R G M LE 0 S R E N A F R I I I F N T DUO O N E

R C I T P N D O E D NA Y C I N D E T ATUR TI !

U A U N NNAO F I G F , I D I !

U A M D C & N A

Y E R M E Y E I

R R B R RSEA P, OI E F OD S N N L Y U S N D L T NE I ROSO A Q C N I EO-ET HIN EU E C R R O C C S R HS A I E FN E TO EO $R , S )F- 4I

TYI R CE NN EO 5E E N O F R U D ) I S O RNNC & A R N O S

OA ES ; E , U F T P 2= I PY L LH S N L A F R T Y A E H OC 5N ON CT IOTT! U E Y O NTNI W N CB T O G I AE I NIT

Y N T

CG T N ERC I L F G4! =NNP R EO E E I E

I $T M L V G T L G E A .REO D NN L T N )OR SN IO C L U 2 I T N I 0 P E T R R A O ) 5E N PE O F N T L , )R PD A PE EY TE & TOC I !N EV ; C A

N U AH EWE RE R H R N I T T O A I AT 0 D O N E I T D SO , NW ND B- DF I I ) G Y & NT EO SE F M N TI C E D RI I F I N EN

EO R N OL

O T 5ESRHN A H E T C F O W

CE EFOA I R F C) WNT RN S INO

EON OO N $AN N EYNUEE FI O V T T I E F GI S N I O C E & O T B I S S I I L R E I F I N T L R F L V S 0 E E L N E O ONE T A E R A F D S G R N Y H O V O R C NP ) R SE E D O P I T LT R EE S N R

A E H M R I 0

I E HN OH I C DU T F NPTTR R Y TIO AEHCO T S O !

T N R R N N@ I R

O EA GSI I I A

E MWNNT & HPT

D C O I G T C I A RODR N !

A E F T E R E OF S U L I C N O S D L G T A I U; O SP C N

Y E = I ED NRH OI T M P P U $ T R R R C H K S O P.E A I E O O NL A # WD $C !)

C,I S

FS S Y K O G T N N NI N O R I A I OS O D B I EH A T NI ET C EDC CU ENO O R! WOR PO TCE T E EP LN I BH T O V O= TR I T I C C T C EP A S OA! R D O NMG TL N N C RN A OS OI NF E R CIL ON E FDB I I T T D O A O A GN N MNU MNO I R TS A E RH S OS , T UA F I E D Y N N MR I E RE I

N UN L RO EF PE O HR KT T M P" N O IA SF E+ F S E C I BX I MO E L

P N REE PEO E H T T UHI H N

T STT T N T U A TH SE A O Y N V C I T HTC E T I A R T R A G N DES 0 L EAF

EMR OE GNO HT NE N S M K I E T UO A R E C T OTN B S O PEI U SDC N EBT A R A NC H @ S E A I RH S FC TE ) ) ;

Tournier’s In re

1.24 Para 2.4

2.3 DIRECTOR CAN CALL FOR RECORDS AND INFORMATION FROM REPORTING ENTITY

2.3-1 Director, FIU-IND can impose fine if reporting entity does not comply -

-

2.4 NO CIVIL LIABILITY ON REPORTING ENTITY IF THEY REPORT SUSPICIOUS TRANSACTIONS

-

MONEY LAUNDERING LAW MANUAL

AUTHOR PUBLISHER DATE OF PUBLICATION EDITION ISBN NO NO. OF PAGES BINDING TYPE

: : : : : : :

TAXMANN'S EDITORIAL BOARD TAXMANN JANUARY 2024 2024 Edition 9789357785037 486 PAPERBACK Rs. 875 | USD 12

DESCRIPTION This book provides 'complete coverage' of the law relating to Prevention of Money-laundering Act (PMLA), 2002.

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