PMLA - MAINTENANCE OF RECORDS BY REPORTING AUTHORITY

MAINTENANCE OF RECORDS BY THE REPORTING AUTHORITY UNDER PMLA

1. Maintenance of Records as per PMLA
by Reporting Entity
•Ca Manmohan Jindal
•RV-SFA, Ex-Canara Bank -Mumbai
•[email protected]
•8850385224
•https://taxguru.in/author/manmohanjindal21_5224/
•https://www.linkedin.com/in/manmohanjindal/
•https://twitter.com/MANMOHANJINDAL2
•https://www.youtube.com/@camanmohanjindal

2. Maintenance of Records by Reporting Entity
•AsperRule3oftheRulesPreventionofMoney-Laundering(Maintenance
ofRecords)Rules2005,everyreportingentityshallmaintainarecordofall
transactionsincluding,therecordof–
Allcashtransactionsofthevalueofmorethantenlakhrupeesorits
equivalentinforeigncurrency
Allseriesofcashtransactionsintegrallyconnectedtoeachotherwhich
havebeenindividuallyvaluedbelowrupeestenlakhoritsequivalentin
foreigncurrencywheresuchseriesoftransactionshavetakenplacewithin
amonthandthemonthlyaggregateexceedsanamountoftenlakhrupees
oritsequivalentinforeigncurrency

3. Alltransactionsinvolvingreceiptsbynon-profitorganizationsofvalue
morethanrupeestenlakh,oritsequivalentinforeigncurrency
Allcashtransactionswhereforgedorcounterfeitcurrencynotesor
banknoteshavebeenusedasgenuineorwhereanyforgeryofa
valuablesecurityoradocumenthastakenplacefacilitatingthe
transactions.

4. Allsuspicioustransactionswhetherornotmadeincash
Allcrossborderwiretransfersofthevalueofmorethanfivelakh
rupeesoritsequivalentinforeigncurrencywhereeithertheoriginor
destinationoffundisinIndia
Allpurchaseandsalebyanypersonofimmovablepropertyvaluedat
fiftylakhrupeesormorethatisregisteredbythereportingentity,as
thecasemaybe

5. Reporting Entities -
•BankingCompany
•Financialinstitution-Asdefinedinclause(c)ofsection45-Iofthe
ReserveBankofIndiaAct,1934(2of1934)andincludesachitfund
company,ahousingfinanceinstitution,anauthorisedperson,a
paymentsystemoperator,anon-bankingfinancialcompanyandthe
DepartmentofPostsintheGovernmentofIndia

6. Intermediary means,-
i.Astock-broker,sharetransferagent,bankertoanissue,trusteetoa
trustdeed,registrartoanissue,merchantbanker,underwriter,portfolio
manager,investmentadviseroranyotherintermediaryassociatedwith
securitiesmarketandregisteredundersection12oftheSecuritiesand
ExchangeBoardofIndiaAct1992;or
ii.AnassociationrecognizedorregisteredundertheForwardContracts
(Regulation)Act,1952oranymemberofsuchassociation;
iii.IntermediaryregisteredbythePensionFundRegulatoryand
DevelopmentAuthority;or
iv.Arecognizedstockexchangereferredtoinclause(f)ofsection2ofthe
SecuritiesContracts(Regulation)Act,1956

7. Reporting Entities -
•Chit Fund Company
•Co-operative Bank
•Housing Finance Institution
Non-banking Financial Company

8. •Thanks
•Ca Manmohan Jindal
•[email protected]
•8850385224
•Adv. Abhay Jindal
•7021113005
•[email protected]