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Corporate Laws Central Ministry of Finance Prevention of Money-laundering Act, 2002

Modifications under the International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022

05-Jun-2025 | IFSCA-DAC/7/2024-AMLCFT/01

IFSCA has issued Modifications under the International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022, effective from 5th June 2025.

Key Highlights of the Amendment:

1. If a customer provides any document as proof of address other than a Post Office savings account statement or a bank account statement (including statements from a foreign bank), under the limited conditions specified in the third proviso of clause 1.3.30, they must submit an updated Officially Valid Document (OVD) or its equivalent e-document showing their current address within three months.

2. To open an account, verify a customer's identity, or carry out ongoing due diligence, the Regulated Entity must obtain the customer's KYC Identifier or retrieve it from the Central KYC Registry (CKYCR). The customer should not be asked to submit the same documents again unless there are changes in the details recorded in the CKYCR.

3. When a Regulated Entity receives updated information from a customer (as mentioned in clause 2), it must send this information to the CKYCR within seven days or within the timeframe set by the Central Government, so that the CKYCR can update their records.

For more information, please refer to the attached document.

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