Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2023


The Central Government on 7th March, 2023 has issued the Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2023. The amendment provides that every Banking Company or Financial Institution or intermediary, as the case may be, shall register the details of a client, in case of client being a non-profit organization, on the DARPAN Portal of NITI Aayog, if not already registered, and maintain such registration records for a period of five years after the business relationship between a client and a reporting entity has ended or the account has been closed, whichever is later.

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