https://www.taxtmi.com/acts?id=37335 Reporting entities must, before each specified transaction, verify client identity by Aadhaar authentication or a prescribed alternate method, undertake prescribed additional inquiry into ownership, financial position and sources of funds, and record the transaction purpose and intended relationship. Failure to meet these requirements bars the transaction. Suspicious or potentially illicit transactions trigger increased monitoring and scrutiny. Information gathered under these measures must be retained for five years. "Specified transaction" covers high value cash deposits or withdrawals, foreign exchange dealings, high value imports or remittances, and other prescribed high risk transactions. en-us Mon, 05 Aug 2019 15:43:00 +0530 Mon, 05 Aug 2019 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=37335 Reporting entities must, before each specified transaction, verify client identity by Aadhaar authentication or a prescribed alternate method, undertake prescribed additional inquiry into ownership, financial position and sources of funds, and record the transaction purpose and intended relationship. Failure to meet these requirements bars the transaction. Suspicious or potentially illicit transactions trigger increased monitoring and scrutiny. Information gathered under these measures must be retained for five years. "Specified transaction" covers high value cash deposits or withdrawals, foreign exchange dealings, high value imports or remittances, and other prescribed high risk transactions. Act-Rules Money Laundering Mon, 05 Aug 2019 15:43:00 +0530 https://www.taxtmi.com/acts?id=37335