Govt. Requires REs to Immediately Obtain ‘Client Due Diligence’ Records from Third Parties Under PMLA Norms
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- By Chetan Kulasri
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- Last Updated on 18 October, 2023
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Notification No. G.S.R 745(E); Dated: 17.10.2023
The Government has notified the Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2023. As per the amended norms, the reporting entities must immediately obtain client due diligence records from third parties or from the Central KYC Records Registry. Earlier, the reporting entities were required to obtain client due diligence records from third parties or the Central KYC Records Registry within 2 days.
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