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of <h1>Finance Ministry Updates Money-laundering Rules: Simplified Address Verification with Utility Bills, Bank Statements, and More.</h1> The Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2015, issued by the Ministry of Finance, amends the 2005 rules under the Prevention of Money-laundering Act, 2002. Effective from its publication date, the amendment allows simplified measures for verifying proof of address when a prospective customer cannot provide standard documentation. Acceptable documents now include recent utility bills, property tax receipts, bank statements, pension orders, employer-issued accommodation letters, and certain documents from foreign jurisdictions or embassies. These changes aim to facilitate compliance while maintaining robust anti-money laundering measures.
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