Section 12AA(1)(c) of the Prevention of Money Laundering Act, 2002 requires recording-
Section 12AA(1)(c) requires additional steps "to record the purpose behind conducting the specified transaction and the intended nature of the relationship between the…
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Section 12AA(1)(c) of the Prevention of Money Laundering Act, 2002 requires recording-
Answer and explanation
Correct answer B
Section 12AA(1)(c) requires additional steps "to record the purpose behind conducting the specified transaction and the intended nature of the relationship between the transaction parties". Identity and transaction details are covered by other clauses and by s.12.