Politically exposed persons brought under with new PMLA rules


Politically exposed persons brought under with new PMLA rules

 

The government has amended rules governing money laundering provisions to include more entities in the ambit of reporting, as well as the definition of politically exposed persons. The Prevention of Money Laundering Act (PMLA) requires additional disclosures by non-governmental organizations. The changes align with the Financial Action Task Force (FATF) recommendations.

 

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