Not complying with kyc or anti money laundering guidelines
durga
(Querist) 21 April 2013
This query is : Resolved
I am a management student and require your help in my academic project. I would like to know what are the laws to punish in case of non compliance with anti money laundering guidelines in Banks as per banking regulation act or any other act if existing.
Thank you for the help rendered.
prabhakar singh
(Expert) 21 April 2013
Below are few legislations you may go through:
Customs Act, 1962
Customs Tariff Act, 1975
FERA
FEMA, 2000
COFEPOSA, 1974
Valuation Act
SAFEMA, 1976
The Foreign Trade (Development and Regulation)
SAFEMFOPA
The Prevention of Money Laundering Bill, 1999
Custom House Agents Licensing Regulations, 1984
Baggage Rules, 1998
Custom & Central Excise Duties Drawback Rules, 1995
Central Excise Act, 1944
The BIS (Certification) Regulations, 1988
for text of statutes you may visit:
http://exim.indiamart.com/act-regulations/
R.K Nanda
(Expert) 21 April 2013
no more to add.
