https://www.taxtmi.com/circulars?id=7834 The circular requires Authorised Persons engaged in money changing activities to adopt board approved KYC/AML/CFT policies covering customer acceptance, identification, transaction monitoring and risk management; to implement risk based customer categorisation and enhanced due diligence for higher risk customers (including PEPs and certain non resident or jurisdictional risks); to retain customer identification and transaction records for ten years; to appoint a Principal Officer responsible for CTR/STR filing to FIU IND in prescribed formats; and to ensure internal audit, staff training and customer education, with penalties for non compliance under PMLA and related rules. en-us Fri, 27 Nov 2009 00:00:00 +0530 Sat, 28 Nov 2009 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7834 The circular requires Authorised Persons engaged in money changing activities to adopt board approved KYC/AML/CFT policies covering customer acceptance, identification, transaction monitoring and risk management; to implement risk based customer categorisation and enhanced due diligence for higher risk customers (including PEPs and certain non resident or jurisdictional risks); to retain customer identification and transaction records for ten years; to appoint a Principal Officer responsible for CTR/STR filing to FIU IND in prescribed formats; and to ensure internal audit, staff training and customer education, with penalties for non compliance under PMLA and related rules. Circulars FEMA Fri, 27 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7834