DNFBPs subject to PMLA, 2002

Along with banks and other financial institutions, the Prevention of Money Laundering Act 2002 also designates certain entities conducting specified financial transactions. This includes real estate agents, dealers in precious metals, precious stones and other high-value goods, practising Chartered Accountants (CA), Company Secretaries (CS) and Cost & Works Accountants (CMA).

Here is a detailed visual note on Designated Non-Financial Businesses and Professions (DNFBPs) subject to AML regulatory obligations under PMLA, 2002, including listing activities qualifying the person as DNFBP.

AML India is a consultancy firm supporting eth regulated entities, including DNFBPs, in India to implement and comply with the PMLA, 2002. AML India offers complete AML support to regulated entities, starting from assessing the business’s ML/FT vulnerabilities and designing and deploying the AML policies, procedures, systems and controls to handle these ML/FT risks. AML India also imparts comprehensive training to the entities to effectively safeguard the business against financial crimes and stay 100% PMLA compliant.