Central Govt. Amends PMLA Norms, Designates FIU-India Director as Regulator for Expanded Reporting Entities
- Blog|News|FEMA & Banking|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 14 November, 2023
Latest from Taxmann
Notification No. S.O. 4876(E) & 4877(E), Dated 09.11.2023
Earlier, the Central Government expanded the scope of the Prevention of Money Laundering Act, 2002, through a notification dated 07.03.2023 & 09.05.2023. The amendments enhanced the coverage by including crypto currencies and various entities & individuals such as company directors, individuals serving as formation agents, partners of firms, trustees, & nominee shareholders as reporting entities under PMLA.
Now, for the purpose of above-mentioned notification, the govt has designated Director, Financial Intelligence Unit, India as Regulator.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
