https://www.taxtmi.com/notifications?id=119763 Financial institutions, banking companies and intermediaries must determine and identify any beneficial owner, verify identities using all reasonable steps, and exercise ongoing due diligence by examining transactions for consistency with the client's business and risk profile and, where necessary, the source of funds. Anonymous, fictitious or undisclosed beneficiary accounts are prohibited. On suspicion of money laundering or terrorism financing, or where prior identification is doubtful, firms must re verify identity, review due diligence measures and obtain information on the purpose and intended nature of the business relationship. Records of identity include identification data, account files and business correspondence. en-us Wed, 16 Jun 2010 00:00:00 +0530 Sat, 26 Nov 2016 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=119763 Financial institutions, banking companies and intermediaries must determine and identify any beneficial owner, verify identities using all reasonable steps, and exercise ongoing due diligence by examining transactions for consistency with the client's business and risk profile and, where necessary, the source of funds. Anonymous, fictitious or undisclosed beneficiary accounts are prohibited. On suspicion of money laundering or terrorism financing, or where prior identification is doubtful, firms must re verify identity, review due diligence measures and obtain information on the purpose and intended nature of the business relationship. Records of identity include identification data, account files and business correspondence. Notifications Money Laundering Wed, 16 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/notifications?id=119763