https://www.taxtmi.com/circulars?id=8330 When an authorised money changer suspects money laundering or cannot apply low risk treatment, it must perform full scale customer due diligence prior to transactions; where CDD cannot be completed the authorised person must not transact, must terminate the business relationship if necessary, and must file a Suspicious Transaction Report with FIU IND. PEP transactions require senior level approval and enhanced ongoing monitoring, and the Principal Officer must ensure overall compliance. These obligations extend to agents/franchisees and are issued under foreign exchange and anti money laundering laws with penal consequences for non compliance. en-us Thu, 25 Nov 2010 00:00:00 +0530 Tue, 30 Nov 2010 21:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8330 When an authorised money changer suspects money laundering or cannot apply low risk treatment, it must perform full scale customer due diligence prior to transactions; where CDD cannot be completed the authorised person must not transact, must terminate the business relationship if necessary, and must file a Suspicious Transaction Report with FIU IND. PEP transactions require senior level approval and enhanced ongoing monitoring, and the Principal Officer must ensure overall compliance. These obligations extend to agents/franchisees and are issued under foreign exchange and anti money laundering laws with penal consequences for non compliance. Circulars FEMA Thu, 25 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8330