Master Direction – Know Your Customer (KYC) Direction, 2016 (Updated as on April 20, 2020)

All Regulated Entities are required to follow Customer
identification procedures while undertaking a transaction
either by establishing an account-based relationship or
otherwise and monitor the transactions of these relationships.

Sagar Tanna, TSS Consultancy at Fintelekt AML 9th Annual Summit India 2019

At the Fintelekt AML 9th Annual Summit India 2019, Mr. Sagar Tanna speaks about Risk Rating and Periodical Reviews. He speaks about the importance of the customers’ KYC being upto date. The scope of the session is
a) Initial Risk Rating – how to do Risk Rating before onboarding a customer,
b) Event based Reviews – once onboarded, specific events/triggers mandate the Financial Instritution to reverify the KYC details of the customer &
c) Periodical Reviews – Reviews to be conducted at specified intervals.