Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da’esh) & Al-Qaida Sanctions List: Addition of two entries
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
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.
This has reference to Master Guidelines on Anti-Money Laundering/ Counter Financing of Terrorism (AML/CFT), 2022 issued vide ref. IRDAI/IID/GDL/MISC/ 160/8/2022 dated 1st August 2022. 2. As per the para 2.3 of the Guidelines, the Guidelines would come into force from 1st November 2022.
IRDAI had issued Master Guidelines on AML/CFT for General insurers and Life insurers in 2013 and 2015 respectively. Subsequently, multiple circulars had been issued on the subject.
In this circular, the Know Your Customer (KYC) guidelines have been revisited in the context of the recommendations made by the Financial Action Task Force (FATF) on Anti Money Laundering (AML) standards and on Combating Financing of Terrorism (CFT)