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of <h1>Aadhaar Mandatory for Financial Transactions Under Amended Money-Laundering Rules; Compliance Deadlines for Accounts Set.</h1> The Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017, issued by the Ministry of Finance, amends the 2005 Rules to incorporate Aadhaar-related requirements for clients engaging in financial transactions. Individuals eligible for Aadhaar must provide their Aadhaar number and Permanent Account Number (PAN) or Form 60. If Aadhaar is not available, proof of application is required. Companies, partnerships, trusts, and other entities must submit certified documents, including Aadhaar and PAN, for authorized representatives. Small accounts have specific conditions and limitations. Reporting entities must authenticate Aadhaar details using e-KYC or Yes/No facilities. Clients must comply by specified deadlines, or accounts may be deactivated.
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