PMLA

Chartered Accountants (CA), Company Secretaries (CS) and cost and works accountants are concerned about the new regulation that would subject them to the strict anti-money laundering law if they enter into financial transactions on behalf…

To further tighten its control of practising accountants, the Centre has brought within the ambit of the Prevention of Money Laundering Act (PMLA) their “financial transactions” such as operating and managing their client firms and…

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Proceeds amounting to Rs 953.70 crore from criminal activities involving cryptocurrencies have been seized, frozen or attached under the provisions of Prevention of Money Laundering Act, 2002 (PMLA) and Foreign Exchange Management Act, 1999…

Indian crypto exchanges will now have to report any suspicious activity related to buying or selling of cryptocurrency to the Financial Intelligence Unit – India (FIU-IND). File | Photo Credit: Reuters The story so far: On March 7, to…

The government has amended rules under the anti-money law, making it mandatory for banks and financial institutions to record financial transactions of politically exposed persons (PEP). Also, financial institutions or reporting agencies…

India has tightened the definition of beneficial ownership under its anti-money laundering law while making mandatory maintenance of records of all financial transactions carried out by non-profit organisations.The finance ministry notified…

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Nationalist Congress Party (NCP) leader Anil Deshmukh alleged that when he was in jail, he was offered a "deal" for getting out, and had he accepted it, the Maha Vikas Aghadi (MVA) government could not have lasted even 2.5 years.Addressing…