https://www.taxtmi.com/acts?id=22965 Reporting entities must identify and verify clients at account commencement and for specified transactions, determine and verify any beneficial owner using reliable independent sources, and may rely on third parties only if due diligence records are promptly available and regulatory equivalence is met. Entities must file electronic KYC with the Central KYC Records Registry, obtain KYC Identifiers to retrieve records online, update registry records when client information changes, and implement ongoing, risk based due diligence, documented risk assessments and a Client Due Diligence Programme approved by senior management. en-us Tue, 15 Nov 2016 16:42:29 +0530 Mon, 22 Jul 2024 11:49:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=22965 Reporting entities must identify and verify clients at account commencement and for specified transactions, determine and verify any beneficial owner using reliable independent sources, and may rely on third parties only if due diligence records are promptly available and regulatory equivalence is met. Entities must file electronic KYC with the Central KYC Records Registry, obtain KYC Identifiers to retrieve records online, update registry records when client information changes, and implement ongoing, risk based due diligence, documented risk assessments and a Client Due Diligence Programme approved by senior management. Act-Rules Money Laundering Tue, 15 Nov 2016 16:42:29 +0530 https://www.taxtmi.com/acts?id=22965