Know Your Customer (KYC) Norms / Anti Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) / Obligations under Prevention of Money-laundering Act (PMLA), 2002 - Money Transfer Service Scheme (MTSS)
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Know Your Customer compliance: MTSS Indian Agents must apply RBI banking regulation AML/CFT guidelines and ensure sub agent adherence. Know Your Customer, Anti Money Laundering and Combating Financing of Terrorism standards under the Prevention of Money Laundering Act are mandated for Authorised Persons acting as Indian Agents under the Money Transfer Service Scheme; Department of Banking Regulation guidelines shall apply mutatis mutandis to all APs, with primary responsibility on Indian Agents to ensure Sub Agent adherence and to inform their Sub Agents and constituents.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Know Your Customer compliance: MTSS Indian Agents must apply RBI banking regulation AML/CFT guidelines and ensure sub agent adherence.
Know Your Customer, Anti Money Laundering and Combating Financing of Terrorism standards under the Prevention of Money Laundering Act are mandated for Authorised Persons acting as Indian Agents under the Money Transfer Service Scheme; Department of Banking Regulation guidelines shall apply mutatis mutandis to all APs, with primary responsibility on Indian Agents to ensure Sub Agent adherence and to inform their Sub Agents and constituents.
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