The Government of India, Ministry of Finance has issued an order dated January 30, 2023 vide F. No. P- 2011/14/2022-ES Cell-DOR (“the Order”) detailing the procedure for implementation of Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 (“WMD Act”).
Procedure for Implementation of Section 12A of ‘The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005(WMD Act) ii) Appointment of nodal officer for Implementation of Section 12A of WMD Act iii) Change of nodal officer for implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967 (UAPA)
Every Banking Company or Financial Institution or intermediary, as the case may be, shall register the details of a client, in case of client being a non-profit organisation, on the DARPAN Portal of NITI Aayog, if not already registered, and maintain such registration records for a period of five years after the business relationship between a client and a reporting entity has ended or the account has been closed, whichever is later
Procedure of implementation of Section 12A of “The Weapons of Mass Destruction and their Delivery Systems”
AML & CFT guidelines for dealers in precious metals and precious stones, 2023
With immense pleasure we would like to share the news that our founder & CEO Mr. Sagar Tanna has been awarded the prestigious Economic Times Global Indian Leaders Award 2022. The ‘ET Global Indian Leaders’ is a celebration of professional and entrepreneurial excellence across multiple sectors and industries.The event was graced by Dia Mirza – […]
Over the years every member of the company has been contributing to the success of TSS. We recognise the wealth creation opportunity that is deserved by approximately 20% of the company members who have been extremely hardworking to fight financial crimes. We have successfully completed our first round of granting employee stock options which has […]
The Reserve Bank has, from time to time, taken measures to rationalise the KYC related instructions taking into account the available technological options for enhancing customers’ convenience within the framework prescribed under the Prevention of Money Laundering Act, 2002 (PMLA) and rules framed thereunder.
Terrorist organizations use advanced techniques to finance their activities, including the use of multiple financial transactions, a variety of financial instruments and other types of value-storing assets, different financial institutions, accountants, financial advisers, shell corporations, and other service providers, as well as a complex web of transfers to and from different countries.
SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as “PIT Regulations, 2015”) came into effect from May 15, 2015. Subsequently amendments were made to put in place a framework for prohibition of insider trading in securities and to strengthen the legal framework to cater to changing dynamics of the market. SEBI, vide the SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018, introduced the concept of Structured Digital Database (hereinafter referred to as “SDD” or the “Database”) which came into effect from April 01, 2019. Considering the requirement to bring clarity on the maintenance of SDD, SEBI introduced further amendments in the year 2020 and issued FAQs in April 2021 on the same.