Real Estate Agents notified as “persons carrying on designated businesses or professions” - Prevention of Money-laundering Act. - 8/2017 - Prevention of Money-Laundering
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Real estate agents designated as reporting entities under anti-money laundering law, triggering due diligence and reporting obligations. Notification under the Prevention of Money-laundering Act designates real estate agents, as defined in the Real Estate (Regulation and Development) Act, 2016, as persons carrying on a designated business or profession under the PMLA, thereby subjecting them to the Act's compliance obligations including customer due diligence, record-keeping and reporting duties.
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.
Real estate agents designated as reporting entities under anti-money laundering law, triggering due diligence and reporting obligations.
Notification under the Prevention of Money-laundering Act designates real estate agents, as defined in the Real Estate (Regulation and Development) Act, 2016, as persons carrying on a designated business or profession under the PMLA, thereby subjecting them to the Act's compliance obligations including customer due diligence, record-keeping and reporting duties.
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