Question
Which of the following obligations are laid down by
Section 12 of Prevention of Money Laundering Act 2002 on banking companies, financial institutions and intermediaries? Â I. maintain a record of all transactions II. maintain record of documents evidencing identity of its clients and beneficial owners III. Keep all the information maintained or furnished as confidentialSolution
Section 12 of Prevention of Money Laundering Act 1) Every reporting entity shall: (a) maintain a record of all transactions, including information relating to transactions covered under clause (b), in such manner as to enable it to reconstruct individual transactions; (b) furnish to the Director within such time as may be prescribed, information relating to such transactions, whether attempted or executed, the nature and value of which may be prescribed; (e) maintain record of documents evidencing identity of its clients and beneficial owners as well as account files and business correspondence relating to its clients.
Who among the following became the Chairperson of the Parliamentary Committee on Science and Technology, Environment, Forests and Climate Change as on 3...
Which of the following nations retained its ICC T20 Women’s World Cup Crown in March 2020?
Which of the following statements regarding the non-electric cooling cabinet, for which the Bureau of Indian Standards (BIS) has recently developed an ...
The term 'checkmate' is used in which of the following sports?
Which among the following gases is necessary for the process of photosynthesis?
Which country has decided to construct monument for the Indian Soldiers killed by Pakistan in the 1971 Liberation War?
When did the SAARC Currency Swap Facility commence?
Who among the following co-founded the Calcutta Unitarian Society and founded the Brahma Samaj?
As of August 2020, in which of the following sectors, 100% FDI in equity in India is NOTpermitted as per India’s FDI Policy?
What role does a compiler serve in computer programming?
Relevant for Exams:
