https://www.taxtmi.com/notifications?id=119721 Amendments require institutions to identify and verify beneficial owners, perform ongoing due diligence including scrutiny of transactions and source of funds, and prohibit anonymous, fictitious or undisclosed owner accounts. Where money laundering or terrorist financing is suspected or prior identification is doubted, institutions must re verify client identity and obtain information on the purpose and intended nature of the business relationship. Records of client identity include identification data, account files and business correspondence; cessation of transactions is defined as termination of an account or business relationship. en-us Wed, 16 Jun 2010 00:00:00 +0530 Thu, 24 Nov 2016 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=119721 Amendments require institutions to identify and verify beneficial owners, perform ongoing due diligence including scrutiny of transactions and source of funds, and prohibit anonymous, fictitious or undisclosed owner accounts. Where money laundering or terrorist financing is suspected or prior identification is doubted, institutions must re verify client identity and obtain information on the purpose and intended nature of the business relationship. Records of client identity include identification data, account files and business correspondence; cessation of transactions is defined as termination of an account or business relationship. Notifications Money Laundering Wed, 16 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/notifications?id=119721