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Does PMLA, 2002 or the rules thereunder prescribe any procedures and manner verifying for identity of clients?

Yes. Rules 9 and 10 of the PML Rules prescribe the procedures & manner for verification and maintenance of the records of the identity of clients.

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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What is the role of Directorate of Enforcement (ED)?

The Directorate of Enforcement is a multi-disciplinary organization mandated with investigation of offence of money laundering and violations of foreign exchange laws. The statutory functions of the Directorate include enforcement of following Acts: The Prevention of Money Laundering Act, 2002 (PMLA

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.

Knowledge Base Article

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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

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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What is a Banking Company?

Banking company under PMLA means a banking company or a cooperative bank to which the Banking Regulation Act, 1949 1949 (10 of 1949) applies and includes any bank or banking institution referred to in section 51 of that Act.

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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For how long should the record of transactions be retained?

The records referred to in clause (a) of sub-section (1) of Section 12 shall be maintained for a period of five years from the date of transaction between a client and the reporting entity. The records referred to in clause (e) of sub-section (1) of Section 12 shall be maintained for a period of fiv

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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What documents need to be submitted to the Reporting Entity for Client Due Diligence,if the client is an unincorporated association or a body of individuals?

Following document need to be verified and maintained when the client is an body of individuals : Where the client is an unincorporated association or a body of individuals, it shall submit to the reporting entity the certified copies of the following documents or the equivalent e-documents thereof,

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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Which documents need to be submitted to the RE for Client Due Diligence, when the client is a company?

Where the client is a company, it shall submit to the reporting entity the certified copies of the following documents or the equivalent e-documents thereof, namely: ​ (i) certificate of incorporation; (ii) Memorandum and Articles of Association; (iii) Permanent Account Number of the company; (iv) a

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.

Knowledge Base Article

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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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What is a Non-banking Financial Company?

Non-banking financial company shall have the same meaning as assigned to it in clause (f) of section 45-I of the Reserve Bank of India Act, 1934.

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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What are a reporting entity’s obligations with regard to risk mitigation?

Every reporting entity is required to exercise ongoing due diligence with respect to the business relationship with every client and closely examine the transactions in order to ensure that they are consistent with their knowledge of the client, his business and risk profile and where necessary, the

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

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What are the proceeds of crime?

Proceeds of crime mean any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence or the value of any such property or where such property is taken or held outside the country, then the property equivalent in value held wi

Knowledge Base Article

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PMLA Rules from a Reporting Entity POV

C
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

C
What happens if I cross the $1 Million volume threshold?

Once your cumulative Options Notional Volume crosses $1 million, standard fees will apply on all subsequent trades and you will no longer receive a refund. You will be notified via push notification and email when this happens.

Knowledge Base Article

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Refund Based Trading Fees in Options Trading

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Can I place multiple TP/SL orders on one position?

No. Only one TP and one SL can be active for a position at any time. If you add or modify TP/SL, the latest values apply to the entire position, replacing any previous TP/SL settings.

Knowledge Base Article

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Options - TP/SL

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What types of Enterprise accounts do we provide services for?

We provide services to various types of Enterprise accounts such as Sole Proprietorship Firms, Private Limited Company, Limited Liability Partnership Firms, Public Limited Company, Partnership Firms, and Retail OTC.

Knowledge Base Article

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Enterprise Onboarding

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How do I reset my Backup Codes?

If you've used your Backup Codes or believe they've been compromised, you can generate a new set. Log in to the CoinDCX website and go to: Tap on the Profile Icon > Security > Backup Codes > Manage ​ Select Reset, complete the required verification, and a new set of 10 Backup Codes will be generated

Knowledge Base Article

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Backup Codes

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What happens to the proceedings if the nominee dies after the account holder but before the money is paid by CoinDCX?

In the unfortunate event that the nominee passes away after the account holder but before CoinDCX processes the payment, the money will be paid to the heirs or legal representatives of the nominee. We understand the sensitivity of such situations and assure you that we will work with the utmost care

Knowledge Base Article

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Demise Claim

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My fingerprint or Face ID isn't working. What should I do?

If biometric authentication fails: Try scanning your fingerprint or face again.Make sure your fingerprint sensor or camera is clean.Check that your fingerprint or Face ID is working for other apps on your device.If needed, use your Login PIN or password to access your account

Knowledge Base Article

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Biometric Login

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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