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Financial Intelligence Unit India

23rd May 2019

Financial Intelligence Unit What is FIU Registration? Section 12 of PMLA, 2002 and rules there under require every reporting entity to check and verify and maintain the records of the identity of all its clients including beneficial owners. For verification and maintenance of records of the identity of clients are prescribed under Rules 9 and […]

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Money Changer Compliance

23rd May 2019

Money Changer Compliance Authorized Money Changers/ AMCs are entities who are authorised by the Reserve Bank of India as per Section 10 of the Foreign Exchange Management Act of 1999. Accordingly, an AMC may either be a Restricted Money Changer (RMC) or a Full Fledged Money Changer (FFMC). As defined by the Act, an Authorized […]

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