
The Ministry of Finance issued a notification on September 04, 2023, to amend the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 (“Rules”), to enhance clarity and stringency of money laundering prevention efforts. The amendment seeks to ensure stricter compliance by reporting authorities to keep a check on money laundering and terror financing.Continue Reading PMLA Second Amendment Rules, 2023: Plugging The Loophole