Section 15 of the Prevention of Money Laundering Act, 2002 ensures reporting entities follow-
Section 15 requires reporting entities to maintain and furnish information by "the procedure and the manner" prescribed by the Central Government in consultation with the…
Choose your answer
Section 15 of the Prevention of Money Laundering Act, 2002 ensures reporting entities follow-
Answer and explanation
Correct answer B
Section 15 requires reporting entities to maintain and furnish information by "the procedure and the manner" prescribed by the Central Government in consultation with the RBI. They cannot substitute their own methods or methods agreed with clients.