Taxmann's Money Laundering Law Manual

Page 1


List of Notifications I-9

of Cases I-19

DIVISION ONE

DIVISION TWO

DIVISION THREE

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

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

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

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 3.81

Prevention of Money-laundering (Manner of Receiving the Records Authenticated Outside India) Rules, 2005

of Money-laundering (Appeal) Rules, 2005

Authority (Procedure) Regulations, 2013

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 3.127

Prevention of Money-laundering (Issuance of Provisional Attachment Order) Rules, 2013 3.133

Prevention of Money-laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013 3.139

Prevention of Money-laundering (Restoration of Property) Rules, 2016 3.147 Know Your Customer (KYC) Directions, 2016 3.151

DIVISION FOUR NOTIFICATIONS Notifications

DIVISION FIVE

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– -

Authentication of Aadhaar using e-KYC Setu system to verify identity of client or beneficial owner vide -

2.1-1 Person carrying on designated business or professionInspector General of Registration appointed under section 3 of the Registration Act, as may be notified by the Central Government

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 section 2(1)(sa)(vi) and will be held as ‘reporting entity’ -

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

Explanation 1.

Explanation

Explanation

Explanation 2.— fa

Explanation 2 vide fa fa 2.1-2 Intermediary

2.1-3 Payment system and payment system operator

2.2 KEEPING RECORDS BY ‘REPORTING ENTITY’ AND INFORMING AUTHORITY

2.2-1 Duty of reporting entity to carry due diligence in case of specified transactions a b c d as may be prescribed. - Explanation as may be prescribed’

2.2-2 Enhanced diligence by reporting entity undertaking specified transactions a

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

MONEY LAUNDERING LAW MANUAL

AUTHOR : Taxmann's Editorial Board

PUBLISHER : TAXMANN

DATE OF PUBLICATION : December 2024

EDITION : 2025 Edition

ISBN NO : 9789364550208

NO. OF PAGES : 512

BINDING TYPE : PAPERBACK

DESCRIPTION

The Money Laundering Law Manual is a comprehensive legal guide designed to provide an in-depth understanding of the Prevention of Money-Laundering Act, 2002 (PMLA) and its associated rules, regulations, notifications, and judicial interpretations.

This manual is a vital resource for legal practitioners, compliance professionals, policymakers, and academicians who seek clarity and precision in India's evolving legal landscape surrounding anti-money laundering laws.

The Present Publication is the 2025 Edition, edited by Taxmann's Editorial Board. This book is amended up to 25th November 2024. The coverage of this book includes:

• Guide to Prevention of Money-laundering Act, 2002 [40+ Pages | Short Commentary], on the following topics:

o Background of Money-Laundering

o Obligations of Reporting Entities to Keep Records and Furnish Information

o Authorities under the PMLA

o Search, Seizure, Impounding of Records

o Other Provisions

• Prevention of Money-laundering Act, 2002

• 15+ Rules/Regulations & Directions framed under the Prevention of Money-laundering Act

• Notifications

• Case Laws Digest

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