https://www.taxtmi.com/notifications?id=146988 Regulated Entities must undertake Customer Due Diligence after assigning risk ratings, identify and verify customers and beneficial owners, understand the purpose of business relations, and conduct ongoing transaction scrutiny. High-risk relationships require enhanced measures, including source-of-wealth and source-of-funds examination, Senior Management approval and closer monitoring; simplified measures may apply only to low-risk relationships and never where ML/TF is suspected. Verification may be deferred only in low-risk cases with safeguards, but must be completed within the prescribed period; otherwise relationships must be suspended or terminated. CDD information requires risk-based periodic updating. en-us Fri, 28 Oct 2022 00:00:00 +0530 Fri, 18 Sep 2026 15:10:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=146988 Regulated Entities must undertake Customer Due Diligence after assigning risk ratings, identify and verify customers and beneficial owners, understand the purpose of business relations, and conduct ongoing transaction scrutiny. High-risk relationships require enhanced measures, including source-of-wealth and source-of-funds examination, Senior Management approval and closer monitoring; simplified measures may apply only to low-risk relationships and never where ML/TF is suspected. Verification may be deferred only in low-risk cases with safeguards, but must be completed within the prescribed period; otherwise relationships must be suspended or terminated. CDD information requires risk-based periodic updating. Notifications Indian Laws Fri, 28 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/notifications?id=146988