Section 12(1)(e) of the Prevention of Money Laundering Act, 2002 requires maintenance of records of-
Section 12(1)(e) requires a reporting entity to "maintain record of documents evidencing identity of its clients and beneficial owners as well as account files and business…
Choose your answer
Section 12(1)(e) of the Prevention of Money Laundering Act, 2002 requires maintenance of records of-
Answer and explanation
Correct answer D
Section 12(1)(e) requires a reporting entity to "maintain record of documents evidencing identity of its clients and beneficial owners as well as account files and business correspondence relating to its clients". Transaction records and reports fall under clause (a) and clause (b).