Anti Money Laundering obligations require intermediaries to implement KYC/CDD, monitor transactions and report suspicious activity to FIU IND. Consolidated Master Circular requires SEBI registered intermediaries to adopt written AML procedures, KYC/CDD and client acceptance policies, verify beneficial ownership, apply a risk based approach with enhanced due diligence for higher risk clients (including PEPs and Clients of Special Category), monitor and preserve transaction records to permit reconstruction, and report Cash Transaction Reports and Suspicious Transaction Reports to FIU IND in prescribed formats and timeframes. Intermediaries must designate a Principal Officer for reporting, prohibit tipping off, provide employee screening and AML training, implement investor education, and apply the more stringent standard when overseas host country rules differ; freezing and sanction obligations under UAPA must be complied with.
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.
Anti Money Laundering obligations require intermediaries to implement KYC/CDD, monitor transactions and report suspicious activity to FIU IND.
Consolidated Master Circular requires SEBI registered intermediaries to adopt written AML procedures, KYC/CDD and client acceptance policies, verify beneficial ownership, apply a risk based approach with enhanced due diligence for higher risk clients (including PEPs and Clients of Special Category), monitor and preserve transaction records to permit reconstruction, and report Cash Transaction Reports and Suspicious Transaction Reports to FIU IND in prescribed formats and timeframes. Intermediaries must designate a Principal Officer for reporting, prohibit tipping off, provide employee screening and AML training, implement investor education, and apply the more stringent standard when overseas host country rules differ; freezing and sanction obligations under UAPA must be complied with.
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