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What is a Co-operative Bank?

Co-operative bank shall have the same meaning as assigned to it in clause(dd) of section 2 of the Deposit Insurance and Credit Guarantee Corporation Act 1961.

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PMLA Rules from a Reporting Entity POV

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What is PMLA?

PMLA stands for Prevention of Money Laundering Act. It is a law enacted in India in 2002 to prevent and combat money laundering and other related offences. It is in force since 1st July 2005. ​

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PMLA Rules from a User POV

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What is the objective of PMLA Act 2002?

The objective of PMLA is to prevent money laundering and to confiscate and seize the proceeds of crime, thereby combating terrorism financing and other illicit activities.

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PMLA Rules from a User POV

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What are the CDD Measures for Trust as per PMLA Act 2002?

In case the customer is a trust following documents are required for due diligence registration certificate; trust deed; and Permanent Account Number or Form No.60 of the trust; and KYC documents as are required for an individual relating to beneficial owner, managers, officers or employees, as the

Knowledge Base Article

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PMLA Rules from a User POV

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What are the penalties for violating PMLA?

Violation of PMLA can result in severe penalties, including imprisonment for a term which shall not be less than three years but which may extend to seven years and shall also be liable to fine.

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PMLA Rules from a User POV

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What are the CDD Measures for Unincorporated Association or a body of individuals as per PMLA Act 2002?

In case the customer is a body of individuals following documents are required for due diligence resolution of the managing body of such association or body of individuals; Permanent account number or Form No.60 of the unincorporated association or a body of individuals; power of attorney granted to

Knowledge Base Article

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PMLA Rules from a User POV

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What is CDD?

CDD stands for Customer Due Diligence, which is a process used by Reporting Entities to verify the identity of their customers and assess the risk of money laundering and terrorist financing.

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PMLA Rules from a User POV

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What are a reporting entity’s obligations with regard to the beneficial ownership verification?

All reporting entities should, at the time of commencement of an account-based relationship with a client, determine whether the client is acting on behalf of a beneficial owner, and identify the beneficial owner and take all steps to verify the identity of the beneficial owner.

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PMLA Rules from a Reporting Entity POV

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What are the obligations for verifying identity of clients under PMLA?

Section 11A together with Section 12 of the Prevention of Money Laundering Act, 2002, requires every reporting entity to verify and maintain the records of the identity of all its clients, as prescribed by rule 9 of the PML Rules.

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PMLA Rules from a Reporting Entity POV

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Which documents need to be submitted to the Reporting Entity for Client Due Diligence, verified and maintained when the client is an individual?

Where the client is an individual, he shall submit to the reporting entity, (a) the Aadhaar number where, he is desirous of receiving any benefit or subsidy or where he decides to submit his Aadhaar number voluntarily; or (b) the proof of possession of Aadhaar number where offline verification can b

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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Can civil court grant injunction against any action taken by the Director, FIU-IND?

No civil Court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which the Director, an Adjudicating Authority or the Appellate Tribunal is empowered by or under this Act to determine and no injunction shall be granted by any Court or other authority in respect of

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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Who is a reporting entity?

Reporting entity means a banking company, financial institution, intermediary or a person carrying on a designated business or profession.

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PMLA Rules from a Reporting Entity POV

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What is a Financial institution?

Financial institution means a financial institution as defined in clause (c) of section 45- I of the Reserve Bank of India Act, 1934 (2 of 1934) and includes a chit fund company, a housing finance institution, an authorised person, a payment system operator, a non-banking financial company and the D

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PMLA Rules from a Reporting Entity POV

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Can Director, FIU-IND issue summons for discovery and production?

The Director shall, for the purposes of section 13, have the same powers as are vested in a civil Court under the Code of Civil Procedure, 1908 (5 of 1908) while trying a suit in respect of the following matters, namely (a) discovery and inspection; (b) enforcing the attendance of any person, includ

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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What is the legal framework for sharing of information with other authorities?

Section 66 of the Prevention of Money Laundering Act, 2002 provides for disclosure of information to other officers, authority or body.

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PMLA Rules from a Reporting Entity POV

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Which documents need to be submitted to the Reporting Entity for Client Due Diligence (client is a partnership firm)?

Where the client is a partnership firm, it shall submit to the reporting entity the certified copies of the following documents or the equivalent e-documents thereof, namely: ​ (i) registration certificate; (ii) partnership deed; (iii) Permanent Account Number of the partnership firm; and (iv) such

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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Why can't I enable Biometric Login?

If you're unable to enable Biometric Login, check the following: Make sure your device supports biometric authentication.Ensure fingerprint or Face ID is already set up in your device settings.Update the CoinDCX app to the latest version.Restart the app and try again. If the issue continues, contact

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Biometric Login

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Can I still log in if Biometric Login doesn't work?

Yes. If biometric authentication isn't available or fails, you can log in using your Login PIN or password, depending on your account settings.

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Biometric Login

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Can I block my current device?

Yes, but keep in mind that you'll be signed out of that device and will need to contact CoinDCX Support by tapping "Chat Now" in the top right corner to unblock the device. Only block your current device if necessary.

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Verified Devices

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When should I block a device?

You should consider blocking a device if: You no longer use that device.You've sold or given away the device.Your phone or laptop has been lost or stolen.You notice a device that you don't recognize. Blocking unused or unfamiliar devices helps keep your account secure.

Knowledge Base Article

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Verified Devices

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DISCLAIMER

The information and material contained herein are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary to CoinDCX, its parent, Licensor and/or its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

*Data sourced from Looker app as on 01st May,2023
*Data as on 01st May,2023
*Quarterly trading volume for Q4 FY'22. Currency conversion rate applied as in data capturing period
*FIU Registered entity, NEBLIO TECHNOLOGIES PVT LTD
*Certified in India for May 2023-24