Can't find what you're looking for?

Ask a question

Search Results (1.2K)

Relevance
Selected Relevance
C
What are the CDD Measures for Individuals as per PMLA Act 2002?

In case the customer is an individual following documents are required for due diligence ​ (a) the Aadhaar number where, (i) the proof of possession of Aadhaar number where offline verification can be carried out; or (ii) the proof of possession of Aadhaar number where offline verification cannot be

Knowledge Base Article

 • 

PMLA Rules from a User POV

C
Whether a transaction can be reported both under CTR and STR?

Yes, in case it is a cash transaction falling within the prescribed rules and has also an element of suspicious transaction.

Knowledge Base Article

 • 

PMLA Rules from a Reporting Entity POV

C
What are the CDD Measures for sole proprietorship as per PMLA Act 2002?

In case the customer is a sole proprtieorship following documents are required for due diligence ​ a. the Aadhaar number where, (i) the proof of possession of Aadhaar number where offline verification can be carried out; or (ii) the proof of possession of Aadhaar number where offline verification ca

Knowledge Base Article

 • 

PMLA Rules from a User POV

C
What are the CDD Measures for Partnership firm as per PMLA Act 2002?

In case the customer is a partnership firm following documents are required for due diligence: registration certificate; partnership deed; PAN or equivalent e-document of the partnership firm and an officially valid document in respect of the person holding an attorney to transact on its behalf.

Knowledge Base Article

 • 

PMLA Rules from a User POV

C
Can appeal be filed against the order of Director, FIU-IND imposing fine?

Any reporting entity aggrieved by any order of the Director made under sub-section (2) of section 13, may prefer an appeal to the Appellate Tribunal.

Knowledge Base Article

 • 

PMLA Rules from a Reporting Entity POV

C
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.

Knowledge Base Article

 • 

PMLA Rules from a User POV

C
Since when Virtual Assets are covered under PMLA Act 2002?

As per the Notification received from Department of Revenue, Ministry of Finance on 7th March 2023, Virtual Digital Assets, their safekeeping or administration is covered under PMLA Act 2002.

Knowledge Base Article

 • 

PMLA Rules from a User POV

C
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

 • 

PMLA Rules from a Reporting Entity POV

C
Are there any time limits prescribed for furnishing information to Director, FIU-IND?

Yes. Rule 8 of the Prevention of Money-Laundering (Maintenance of Records) Rules 2005 prescribes time limit for furnishing information to the Director, FIU-IND The time limit for furnishing information about cash transactions and integrally connected cash transactions , transactions involving receip

Knowledge Base Article

 • 

PMLA Rules from a Reporting Entity POV

C
What constitutes a suspicious transaction under PMLA?

Suspicious transaction means a transaction referred to in clause (h) of sub-rule(1) of Rule 2 of Prevention of Money-Laundering (Maintenance of Records) Rules 2005, including an attempted transaction, whether or not made in cash, which to a person acting in good faith: (a) gives rise to a reasonable

Knowledge Base Article

 • 

PMLA Rules from a Reporting Entity POV

C
Can a reporting entity be penalized for not complying with the obligations of maintenance of records under PMLA, 2002?

Yes, under section 13 of the Prevention of Money Laundering Act, 2002. If the Director, in the course of any inquiry, finds that a reporting entity or its designated director on the Board or any of its employees has failed to comply with the obligations under Chapter IV of the Prevention of Money La

Knowledge Base Article

 • 

PMLA Rules from a Reporting Entity POV

C
What is the process of KYC under PMLA?

KYC stands for Know Your Customer. Under PMLA, Reporting Entities are required to obtain information about their customers' identity, address, occupation, and other relevant details by collecting their PAN, Officially Valid Documents (OVD) & other related documents.

Knowledge Base Article

 • 

PMLA Rules from a User POV

C
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

 • 

PMLA Rules from a Reporting Entity POV

C
Whether any civil or criminal proceedings can be initiated for furnishing information?

No. It is provided for in section 14 of the Prevention of Money Laundering Act, 2002, that the reporting entity, its directors and employees shall not be liable to any civil or criminal proceedings against them for furnishing information under clause (b) of sub-section (l) of section 12.

Knowledge Base Article

 • 

PMLA Rules from a Reporting Entity POV

C
Is Two-Factor Authentication (2FA) recommended?

Yes. We strongly recommend enabling Two-Factor Authentication (2FA) to add an extra layer of security to your CoinDCX account. Even if someone gains access to your password, they won't be able to access your account without the verification code generated by your Google Authenticator app.

Knowledge Base Article

 • 

OTP & Two-Factor Authentication (2FA)

C
What is an OTP?

A One-Time Password (OTP) is a unique verification code sent to your registered email address or registered mobile number to help verify your identity. You may be asked to enter an OTP while: Logging in to your accountResetting your passwordUpdating your registered email address or mobile numberPerf

Knowledge Base Article

 • 

OTP & Two-Factor Authentication (2FA)

C
Can PMLA be applied to foreign transactions?

Yes, PMLA can be applied to foreign transactions. It can also be applied to transactions that take place outside India but have a connection with India.

Knowledge Base Article

 • 

PMLA Rules from a User POV

C
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.

Knowledge Base Article

 • 

PMLA Rules from a User POV

C
What should I do if my INR to Crypto Swap order fails?

If your order fails, please contact our Support Team through the CoinDCX app. We'll investigate the issue and assist you in resolving it as quickly as possible.

Knowledge Base Article

 • 

INR to Crypto Swap

C
What is the funding interval for all markets?

In Global Futures, the funding interval is one hour for all markets. This is different from Crypto Futures, where funding intervals are typically 4 hours or 8 hours. The shorter interval helps keep Global Futures prices closely aligned with the actual market price.

Knowledge Base Article

 • 

Funding

Build your crypto portfolio on CoinDCX - a safe, simple and a compliant crypto investment app.

© All rights reserved by Primestack Pte. Ltd.

users-badge assets-badge volume-badge funding-badge aml-badge

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