PML Act

March 27, 2023 Monday, 12:40 Hrs


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Money Laundering

What is Money Laundering?

Money Laundering is the practice of engaging in a series of financial transactions to conceal the ownership, source, control or destination of illegally gained money. It involves disguising financial assets so that they can be used without detection of the illegal activity that produced them. In other words, it is the process by which the proceeds of crime like drug dealing, corruption, accounting and other types of frauds, tax evasion, etc. are made to appear to have a legitimate origin.

What is Terrorist Financing?

Terrorist Financing can be defined as the financial support, in any form, of terrorism or those who encourage, plan or engage in terrorism.

How Money Laundering affects the economy as a whole?

Money Laundering damages the integrity of the banking and financial services and over a period of time the institutions could be drawn into active complicity with criminals and become part of the criminal network itself. Inexplicable changes in money demand, prudential risks to bank soundness, contamination effects on legal financial transactions, and increased volatility in international capital flows and exchange rate will be the consequences of unchecked money laundering. There is a damping effect on foreign direct investment when a country’s commercial and financial sectors are perceived to be subject to the control and influence of organised crime.

Regulations on Anti Money Laundering and Combating Financing of Terrorism

The Prevention of Money Laundering Act 2002 was brought into force with effect from 1 July 2005. Necessary Notifications/Rules under the said Act were published in the Gazette of India on the 1st of July 2005 as per the provisions of which, we, as a financial intermediary associated with the Securities Market shall have to adhere to Client Account opening procedures and maintain records of such transactions as prescribed by the PMLA and the Rules notified thereunder.

What the provisions of the PML Act require from you

To provide required documents/information at the time of opening of account such as proof for identity, address and income, etc.
To update the financial/income details on a periodic basis and on request from us from time to time
To update the changes in profile like change in occupation, address, contact details etc.
To ensure that transactions undertaken are commensurate with disclosed income details.

Please visit the websites:www.fatf-gafi.org and www.fiuindia.gov.in for more information on the subject.

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Attention Investors :

We would like to inform the investor to be rid of investment tips to invest with them in their bogus firms by promising huge profits, we never share the customer information like Mobile number, email ID etc., with any of the outside companies. We sensitize the customers to be aware of fraudsters and ignore any technical tips received from the unknown contacts. IFIN/ICOM will not be responsible for any bogus messages received by you.Please do NOT disclose your User ID and/or Passwords to any persons, even IFIN/ICOM staff never ask you to share the same. IFIN/ICOM is neither liable for any loss arising from your sharing of your password with anyone, Nor from its consequent unauthorized use. Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers/Depository Participant. Receive information of your transactions directly from Exchange / Depository on your mobile / email at the end of the day .... Issued in the interest of Investors. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. Please update your annual income details immediately. KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary Eq : Rights & Obligations in 15 regional vernacular languages Commodity : Rights & Obligations in 15 regional vernacular languages, Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers/Depository Participant. Receive information of your transactions directly from Exchange / Depository on your mobile / email at the end of the day .... Issued in the interest of Investors. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account, “Link your aadhaar number with your trading / Demat account. “ Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1,2020. | | Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge. | | Pay 20% upfront margin of the transaction value to trade in cash market segment. | | Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard. | | Check your Securities/MF/Bonds in the consolidated account statement issued by NSDL/CDSL every month. | | .......... Issued in the interest of Investors. All our clients are requested to link their PAN with Aadhaar. | | AADHAAR AND PAN LINK - CHECK STATUS - Click Here | | AADHAAR AND PAN LINK – UPDATE STATUS - Click Here

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Attention Investor

Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers/Depository Participant. Receive information of your transactions directly from Exchange / Depository on your mobile / email at the end of the day .... Issued in the interest of Investors. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.

Please update your annual income details immediately.

KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary

Eq : Rights & Obligations in 15 regional vernacular languages

Commodity : Rights & Obligations in 15 regional vernacular languages,

“Link your aadhaar number with your trading / Demat account. “

Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1,2020.

Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.

Pay 20% upfront margin of the transaction value to trade in cash market segment.

Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard. Check your Securities/MF/Bonds in the consolidated account statement issued by NSDL/CDSL every month.Issued in the interest of Investors.

All our clients are requested to link their PAN with Aadhaar.

AADHAAR AND PAN LINK - CHECK STATUS - Click Here

AADHAAR AND PAN LINK – UPDATE STATUS - Click Here

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