TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 12 of the Prevention of Money-Laundering Act: Record-Keeping Mandates for Financial Entities, Confidentiality, and Exemptions</h1> Section 12 of the Prevention of Money-Laundering Act, 2002 mandates that reporting entities, including banking companies, financial institutions, and intermediaries, maintain records of all transactions to reconstruct individual transactions. They must provide transaction information to the Director within a prescribed timeframe and keep records of client identities and related documents. These records must be kept confidential and maintained for five years from the transaction date or the end of the business relationship. The Central Government can exempt certain entities from these obligations. Amendments have adjusted these requirements over time.
TaxTMI 
TaxTMI 
