The Prevention of Money-laundering (Maintenance of Records) Fifth Amendment Rules, 2019

Nov 14, 2019 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Ministry of Finance on November 13, 2019, notifies the Prevention of Money-laundering (Maintenance of Records) Fifth Amendment Rules, 2019 to further amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005.

The amendments are made in Rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 related to “Client Due Diligence”, a new sub-rule 9(19) has been inserted, namely:-

“Where a client has provided his Aadhaar number for identification under sub-rule 9 (4)(a) and wants to provide a current address, different from the address as per the identity information available in the Central Identities Data Repository, he may give a self-declaration to that effect to the reporting entity.”

This Notification shall come into force on the date of its publication in the Official Gazette that is November 13, 2019.

[Notification No. G.S.R. 840(E)]


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