Why you can trust this course
We don't ask you to take our word for it. Every claim in every lesson is anchored to a Section, Rule, or judgment. This page is the master register of every authority we cite.
Legal basis snapshot: Prevention of Money Laundering Act 2002 (Act 15 of 2003) as in force on 9 October 2026, consolidated by India Code. PML (Maintenance of Records) Rules 2005 as amended by First Amendment Rules 2023 (Gazette 7 March 2023), Second Amendment Rules 2023 (Gazette 4 September 2023), Third Amendment Rules 2023 (Gazette 17 October 2023) and GSR 419(E) dated 19 July 2024. RBI Master Direction - Know Your Customer (KYC) Direction 2016 as amended by the Reserve Bank of India (KYC) (Second Amendment) Directions 2025, DOR.AML.REC.46/14.01.001/2025-26 dated 14 August 2025. SEBI Master Circular on Guidelines on AML Standards and CFT Obligations of Securities Market Intermediaries (2024 consolidated reissue, draft refresh in consultation October 2025). IRDAI Master Guidelines on AML/CFT 2022 (IRDAI/IID/GDL/MISC/160/8/2022, effective 1 November 2022) as modified by IRDAI/IID/CIR/MISC/112/8/2024 dated 12 August 2024. FIU-IND AML/CFT Guidelines for VDA SPs (10 March 2023), for Professionals with Certificates (4 July 2023) and for Multi-State Co-operative Societies (effective 11 October 2024). Supreme Court position: Vijay Madanlal Choudhary v. Union of India (27 July 2022, 2022 LiveLaw SC 633) with review pending as of mid-2025 and Pavana Dibbur v. Directorate of Enforcement (29 November 2023, review dismissed March 2024). FATF Mutual Evaluation Report India adopted Singapore Plenary June 2024, published 19 September 2024.
How this AML / KYC & PMLA Compliance Officer — India Practitioner register is built
This trust page is the citation register for the AML / KYC & PMLA Compliance Officer — India Practitioner course. It cites 85 authorities across 13 statutory instruments, drawn from the legal basis snapshot above (Prevention of Money Laundering Act 2002 (Act 15 of 2003) as in force on 9 October 2026, consolidated by India Code. PML (Maintenance of Records) Rules 2005 as amended by First Amendment Rules 2023 (Gazette 7 March 2023), Second Amendment Rules 2023 (Gazette 4 September 2023), Third Amendment Rules 2023 (Gazette 17 October 2023) and GSR 419(E) dated 19 July 2024. RBI Master Direction - Know Your Customer (KYC) Direction 2016 as amended by the Reserve Bank of India (KYC) (Second Amendment) Directions 2025, DOR.AML.REC.46/14.01.001/2025-26 dated 14 August 2025. SEBI Master Circular on Guidelines on AML Standards and CFT Obligations of Securities Market Intermediaries (2024 consolidated reissue, draft refresh in consultation October 2025). IRDAI Master Guidelines on AML/CFT 2022 (IRDAI/IID/GDL/MISC/160/8/2022, effective 1 November 2022) as modified by IRDAI/IID/CIR/MISC/112/8/2024 dated 12 August 2024. FIU-IND AML/CFT Guidelines for VDA SPs (10 March 2023), for Professionals with Certificates (4 July 2023) and for Multi-State Co-operative Societies (effective 11 October 2024). Supreme Court position: Vijay Madanlal Choudhary v. Union of India (27 July 2022, 2022 LiveLaw SC 633) with review pending as of mid-2025 and Pavana Dibbur v. Directorate of Enforcement (29 November 2023, review dismissed March 2024). FATF Mutual Evaluation Report India adopted Singapore Plenary June 2024, published 19 September 2024.).
Primary sources: PMLA Act 2002 (20 entries), PML Rules 2005 (18 entries), RBI Master Direction KYC (9 entries).
Every claim in every AML / KYC & PMLA Compliance Officer — India Practitioner lesson traces back to a Section, Rule, or judgment listed below.
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The full citation register
Every authority used in any lesson appears below. Click a row to expand the verbatim text.
Pavana Dibbur v. Directorate of Enforcement 2023 , Pavana Dibbur 2023
Plain summary: 29 November 2023. Section 120B IPC alone does not trigger PMLA. The conspiracy must be directed at a scheduled offence. Review dismissed in March 2024.
Union of India v. Ganpati Dealcom 2022 (recalled 2024) , Ganpati Dealcom
Plain summary: 2022 judgment struck down retrospective application of Benami Act 2016 amendments. Supreme Court recalled this judgment in October 2024 on the Centre's review. Recall itself now under scrutiny.
Vijay Madanlal Choudhary v. Union of India 2022 , Vijay Madanlal Choudhary 2022
Plain summary: 27 July 2022, 2022 LiveLaw SC 633. Upheld the core bail test under Section 45, ECIR non-sharing, Section 24 reverse burden and Section 50 ED-summons admissibility. Review admitted on ECIR supply and Section 24 reverse burden. Bench reconstituted in 2025.
FATF Mutual Evaluation Report India 2024 , FATF MER India 2024 19 Sep 2024
Plain summary: Adopted at Singapore Plenary June 2024, published 19 September 2024. India placed in regular follow-up, the top tier, with Substantial effectiveness ratings on IO1, IO2, IO5, IO6, IO8, IO11 and Moderate on IO3, IO4, IO7, IO9, IO10.
FATF Recommendation 10 , Customer Due Diligence 19 Sep 2024
Plain summary: Financial institutions must undertake CDD measures when establishing business relationships, carrying out occasional transactions above the threshold, or when there is suspicion of money laundering or terrorist financing.
FATF Recommendation 16 , Wire transfers (Travel Rule) 19 Sep 2024
Plain summary: Countries should ensure financial institutions include required originator and beneficiary information on wire transfers and that information remains with the transfer throughout the payment chain.
FATF Recommendation 20 , Suspicious transaction reporting 19 Sep 2024
Plain summary: Financial institutions must report suspicions that funds are the proceeds of a criminal activity or are related to terrorist financing to the Financial Intelligence Unit.
FATF Recommendations , FATF Recommendations 19 Sep 2024
Plain summary: The 40 Recommendations of the Financial Action Task Force on Money Laundering, which form the global AML/CFT standard.
FIU-IND Order Binance 10/2024 (19 June 2024, Rs 18.82 crore) , Binance penalty 01 Jan 2024
Plain summary: FIU-IND imposed Rs 18,82,00,000 on Binance by order dated 19 June 2024. Binance subsequently registered with FIU-IND.
FIU-IND Order Bybit (31 January 2025, Rs 9.27 crore) , Bybit penalty 01 Jan 2024
Plain summary: FIU-IND imposed Rs 9,27,00,000 on Bybit by order dated 31 January 2025. Bybit subsequently registered with FIU-IND.
FIU-IND Order Gandhinagar Nagarik Co-op Bank (30 December 2025) , Gandhinagar co-op bank penalty 01 Jan 2024
Plain summary: FIU-IND penalty order against Gandhinagar Nagarik Co-operative Bank dated 30 December 2025.
FIU-IND Order KuCoin PGL_08_2024 (22 March 2024, Rs 34.5 lakh) , KuCoin penalty 01 Jan 2024
Plain summary: FIU-IND imposed Rs 34,50,000 on Peken Global Limited (KuCoin) by order dated 22 March 2024.
FIU-IND Order Paytm Payments Bank (1 March 2024, Rs 5.49 crore) , Paytm Payments Bank penalty 01 Jan 2024
Plain summary: FIU-IND imposed Rs 5,49,00,000 on Paytm Payments Bank by order dated 1 March 2024 for AML violations.
FIU-IND Order Rajgurunagar Sahakari Bank (22 December 2025) , Rajgurunagar co-op bank penalty 01 Jan 2024
Plain summary: FIU-IND penalty order against Rajgurunagar Sahakari Bank dated 22 December 2025.
FIU-IND Order Union Bank 01/DIR/2025 (8 April 2025) , Union Bank of India penalty 01 Jan 2024
Plain summary: Order 01/DIR/FIU-IND/2025 against Union Bank of India dated 8 April 2025.
FIU-IND Multi-State Co-op AML/CFT Guidelines (11 October 2024) , FIU-IND Multi-State Co-op Guidelines 01 Jan 2024
Plain summary: AML/CFT Guidelines for Multi-State Co-Operative Societies, effective 11 October 2024.
FIU-IND Professionals AML/CFT Guidelines (4 July 2023) , FIU-IND Professionals Guidelines 01 Jan 2024
Plain summary: AML and CFT Guidelines for Professionals with Certificates (Chartered Accountants, Company Secretaries, Cost Accountants) brought under PMLA by S.O. 2036(E) of 3 May 2023.
FIU-IND VDA AML/CFT Guidelines (10 March 2023) , FIU-IND VDA Guidelines 01 Jan 2024
Plain summary: AML and CFT Guidelines for Reporting Entities providing services related to Virtual Digital Assets. Travel Rule for VDA transfers above Rs 50,000.
IRDAI AML Master Guidelines 2022 , IRDAI AML Master Guidelines 2022 12 Aug 2024
Plain summary: Dated 1 August 2022, effective 1 November 2022. Applies to life, general, health, reinsurers and corporate agents / brokers / web aggregators / insurance marketing firms.
IRDAI Circular IRDAI/IID/CIR/MISC/112/8/2024 (12 August 2024) , IRDAI August 2024 CKYCR port 12 Aug 2024
Plain summary: Ported the GSR 419(E) 19 July 2024 PML Rules amendments (CKYCR push-and-pull in Rule 9(1C)) into the insurer regime.
S.O. 1072(E) dated 7 March 2023 (VDA SPs) , VDA SPs brought under PMLA 03 May 2023
Plain summary: Brings five VDA activities under PMLA: fiat-to-VDA exchange, VDA-to-VDA exchange, VDA transfer, safekeeping and administration of VDAs, and participation in and provision of financial services related to an issuer's offer and sale of a VDA.
S.O. 1073(E) dated 7 March 2023 (Real-estate) , Real-estate agents brought under PMLA 03 May 2023
Plain summary: Brings real-estate agents and developers within Section 2(1)(sa)(iii) for any transaction involving real-estate buying-selling on behalf of a client.
S.O. 2036(E) dated 3 May 2023 (CA/CS/CMA) , CA, CS, CMA brought under PMLA 03 May 2023
Plain summary: Brings CA, CS, CMA within Section 2(1)(sa)(vi) for five activities: buying and selling immovable property, managing client money/securities/assets, management of bank/savings/securities accounts, organising contributions for companies, and creation/operation/management of companies, LLPs or trusts.
Rule 10 , Retention of records 01 Jul 2005
Plain summary: Records of the identity of clients shall be maintained for a period of five years after the business relationship between a client and reporting entity has ended or the account has been closed, whichever is later.
Rule 2(1)(f) , Definition of Principal Officer 01 Jul 2005
Plain summary: An officer designated by a reporting entity under Rule 7 to furnish information under Section 12 of the Act. Must be a management-level officer separate from the Designated Director.
Rule 2(1)(fa) , Definition of Designated Director 01 Jul 2005
Plain summary: A person designated by the reporting entity to ensure overall compliance with the obligations imposed under Chapter IV of the Act and the Rules. Must be a board-level person or equivalent and is directly liable under Section 13(2) and Section 70.
Rule 2(1)(g) , Definition of politically exposed person 01 Jul 2005
Plain summary: An individual entrusted with prominent public functions by a foreign country, including heads of states, governments, senior politicians, senior government or judicial or military officials, senior executives of state-owned corporations, and important political-party officials.
Rule 3 , Maintenance of records of transactions 01 Jul 2005
Plain summary: Reporting entities must maintain records of five categories of transactions: cash (CTR), suspicious (STR), counterfeit currency (CCR), cross-border wire transfer (CBWTR) and non-profit organisation receipts (NTR).
Rule 3(1)(A) , Cash transaction report (CTR) 01 Jul 2005
Plain summary: All cash transactions of the value of more than Rs 10 lakh or its equivalent in foreign currency, and all series of integrally connected cash transactions valued below Rs 10 lakh which have taken place within a month and the aggregate value exceeds Rs 10 lakh.
Rule 3(1)(B) , Counterfeit currency report 01 Jul 2005
Plain summary: All cash transactions where forged or counterfeit currency notes or banknotes have been used as genuine, or any forgery of a valuable security or document has taken place facilitating the transaction.
Rule 3(1)(C) , Cross-border wire transfer report (CBWTR) 01 Jul 2005
Plain summary: All cross-border wire transfers of the value of more than Rs 5 lakh or its equivalent in foreign currency where either the origin or destination of the funds is in India.
Rule 3(1)(D) , Immovable property transaction report 01 Jul 2005
Plain summary: All purchase and sale by any person of immovable property valued at Rs 50 lakh or more by reporting entities designated under Section 2(1)(sa).
Rule 3(1)(E) , Suspicious transaction report (STR) 01 Jul 2005
Plain summary: All suspicious transactions whether or not made in cash, including those which give rise to a reasonable ground of suspicion that they may involve the proceeds of an offence specified in the Schedule.
Rule 7 , Procedure for furnishing information 01 Jul 2005
Plain summary: Principal Officer shall furnish CTR, CBWTR, CCR and NTR to the Director by the 15th day of the succeeding month. STR shall be furnished promptly and not later than seven working days from the date of the Principal Officer being satisfied that the transaction is suspicious.
Rule 7(3) , STR filing window 01 Jul 2005
Plain summary: STR must be furnished promptly to the Director not later than seven working days on being satisfied that the transaction is suspicious. The seven-day clock starts from satisfaction, not from the transaction.
Rule 9 , Client due diligence 01 Jul 2005
Plain summary: Reporting entities shall identify clients, verify identity, identify the beneficial owner, understand the nature of the business and conduct ongoing due diligence on the business relationship.
Rule 9(14) , Enhanced due diligence triggers 01 Jul 2005
Plain summary: Enhanced due diligence applies to PEPs, non-resident clients, high-net-worth individuals, NPOs, trusts, companies with nominee shareholders, business relationships from high-risk jurisdictions, and any client where the reporting entity perceives higher risk.
Rule 9(1A) , Beneficial-ownership identification 01 Jul 2005
Plain summary: Reporting entities shall identify the beneficial owner and take all reasonable steps to verify his identity, applying the ownership-and-control thresholds of 10 percent for companies and 15 percent for partnerships and trusts post-2023.
Rule 9(1B) , Look-through for companies and trusts 01 Jul 2005
Plain summary: Where a client is a company, partnership or unincorporated association, the natural person who exercises ultimate control through chain of ownership must be identified. Trusts require identification of settlor, trustee, beneficiary and any other natural person exercising ultimate effective control.
Rule 9(1C) , CKYCR push-and-pull obligation 01 Jul 2005
Plain summary: Added by GSR 419(E) of 19 July 2024. Reporting entities must upload updated KYC to the Central KYC Records Registry (CKYCR) and pull updated KYC from CKYCR before onboarding or on any KYC refresh.
Rule 9A , Aadhaar authentication framework 01 Jul 2005
Plain summary: Governs the manner in which Aadhaar authentication may be used by a reporting entity for client verification, pursuant to Section 11A PMLA.
First Amendment Rules 2023 (7 March 2023) , First Amendment Rules 2023 19 Jul 2024
Plain summary: Introduced beneficial-owner thresholds, tightened PEP definition and added the first VDA SP record-keeping hooks.
GSR 419(E) dated 19 July 2024 , GSR 419(E) 19 July 2024 19 Jul 2024
Plain summary: Introduced the CKYCR push-and-pull flow in Rule 9(1C). Closes the stale-KYC gap FATF flagged. Reporting entities must upload updated KYC to CKYCR and pull updated KYC from CKYCR before onboarding.
Third Amendment Rules 2023 (17 October 2023) , Third Amendment Rules 2023 19 Jul 2024
Plain summary: Added Rule 9(1A) and (1B) on company-and-trust look-through documentation.
Part A of Schedule , Part A scheduled offences 17 Jan 2003
Plain summary: Includes IPC offences (criminal conspiracy, cheating, forgery), NDPS Act, Prevention of Corruption Act, UAPA, Arms Act, Explosives Act, Antiquities Act, Immoral Traffic Prevention Act, Benami Transactions Prohibition Act, Black Money Act, FEOA, SEBI Act, Companies Act and specified Customs Act offences.
Preamble , Preamble to PMLA 17 Jan 2003
Plain summary: Enacted to prevent money-laundering and provide for confiscation of property derived from or involved in money-laundering, in pursuance of the UN Political Declaration adopted by the General Assembly on 10 June 1998.
Section 11A , Verification of identity by reporting entities 17 Jan 2003
Plain summary: A reporting entity which is a banking company may verify the identity of its clients using Aadhaar authentication under the Aadhaar Act 2016, offline Aadhaar, or other officially valid documents.
Section 12 , Reporting entity obligations 17 Jan 2003
Plain summary: Maintain a record of all transactions, furnish information to the Director, verify identity of clients, identify the beneficial owner, and maintain records for five years from the date of transaction between the client and the reporting entity.
Section 12A , Access to information 17 Jan 2003
Plain summary: The Director may call for from any reporting entity any of the records referred to in sub-section (1) of Section 12 and any additional information.
Section 13 , Powers of Director to impose fine 17 Jan 2003
Plain summary: The Director may, after inquiry, impose a fine on a reporting entity, its designated director on the Board or any of its employees, which shall not be less than ten thousand rupees but may extend to one lakh rupees for each failure.
Section 13(2)(d) , Monetary penalty slab 17 Jan 2003
Plain summary: Monetary penalty from Rs 10,000 to Rs 1,00,000 for each failure to comply with Section 12 obligations, and may be as high as Rs 1 crore in aggregate per the compliance order framework.
Section 17 , Search and seizure 17 Jan 2003
Plain summary: The Director or authorised officer may enter and search any building, place, vehicle or vessel where he has reason to believe that money-laundering-related documents or property are kept.
Section 19 , Power to arrest 17 Jan 2003
Plain summary: The Director or Deputy Director may, if he has reason to believe on the basis of material in his possession that any person has been guilty of an offence punishable under this Act, arrest such person.
Section 2(1)(sa) , Person carrying on designated business or profession 17 Jan 2003
Plain summary: Six sub-clauses: casinos, Inspector-General of Registration as notified, real-estate agents as notified, dealers in precious metals and stones as notified, cash and liquid-securities safekeepers as notified, and any other activity the Central Government notifies. Sub-clause (vi) is the engine of the 2023 expansions.
Section 2(1)(wa) , Reporting entity 17 Jan 2003
Plain summary: A banking company, financial institution, intermediary or a person carrying on a designated business or profession.
Section 24 , Burden of proof 17 Jan 2003
Plain summary: In any proceeding relating to proceeds of crime under this Act, the authority or court shall, unless the contrary is proved, presume that such proceeds of crime are involved in money-laundering.
Section 3 , Offence of money-laundering 17 Jan 2003
Plain summary: Whosoever directly or indirectly attempts to indulge or knowingly assists or is a party to or is actually involved in any process or activity connected with the proceeds of crime, is guilty of the offence of money-laundering.
Section 44 , Offences triable by Special Courts 17 Jan 2003
Plain summary: The Special Court shall take cognizance of the offence of money-laundering upon a complaint made by an authority authorised in this behalf by the Central Government by a general or special order.
Section 45 , Offences cognizable and bail conditions 17 Jan 2003
Plain summary: The twin conditions for grant of bail. The Public Prosecutor must have an opportunity to oppose and the court must be satisfied there are reasonable grounds for believing the accused is not guilty of the offence and is not likely to commit any offence while on bail.
Section 5 , Attachment of property involved in money-laundering 17 Jan 2003
Plain summary: The Director or an authorised officer not below the rank of Deputy Director may, by order in writing, provisionally attach such property for a period not exceeding 180 days.
Section 50 , Powers of authorities regarding summons, production of documents and evidence 17 Jan 2003
Plain summary: The Director, Additional Director, Joint Director, Deputy Director and Assistant Director have powers vested in a civil court. Statements made under Section 50 are admissible in evidence.
Section 63 , Punishment for false information or failure to give information 17 Jan 2003
Plain summary: False information or failure to give information carries imprisonment up to two years, or fine from Rs 500 to Rs 10,000 per day during which the failure continues, or both.
Section 70 , Offences by companies 17 Jan 2003
Plain summary: Where an offence is committed by a company, every person who at the time of commission was in charge of and responsible for the conduct of the business of the company, as well as the company, shall be deemed guilty.
Section 73 , Power to make rules 17 Jan 2003
Plain summary: The Central Government may, by notification, make rules for carrying out the provisions of this Act, including the record-keeping, identity verification and reporting obligations.
Section 10 , Commercial organisation adequate-procedures defence
Plain summary: Added by 2018 amendment. Commercial organisations are liable if a person associated with them bribes a public servant, with a defence that the organisation had adequate procedures in place. The India-equivalent of UK Bribery Act Section 7.
Section 13 , Criminal misconduct by a public servant
Plain summary: Dishonest or fraudulent misappropriation or conversion of property entrusted to a public servant, or intentional enrichment illicitly during a period of office.
Section 7 , Public servant taking undue advantage
Plain summary: Public servant obtaining or accepting any undue advantage to perform or cause performance of a public duty improperly.
Section 8 , Giving undue advantage to a public servant
Plain summary: Any person who gives or promises to give to a public servant any undue advantage, with the intention to induce that public servant to perform or cause performance of a public duty improperly.
RBI KYC FAQ dated 9 June 2025 , RBI KYC FAQs 9 June 2025 14 Aug 2025
Plain summary: The official companion FAQ to the Master Direction, refreshed 9 June 2025.
RBI KYC Second Amendment Directions 2025 (14 August 2025) , RBI KYC Second Amendment 2025 14 Aug 2025
Plain summary: DOR.AML.REC.46/14.01.001/2025-26. Added PwD inclusion to Para 11, tightened Para 14 on occasional transactions, added Aadhaar face auth to Para 16, refined periodic updation under Para 18.
RBI MD KYC 2016 , RBI Master Direction KYC 2016 14 Aug 2025
Plain summary: The consolidated Master Direction on Know Your Customer, originally issued 25 February 2016 as RBI/DBR/2015-16/18, updated continuously.
RBI MD KYC Para 11 , KYC for disadvantaged groups 14 Aug 2025
Plain summary: No KYC rejection without application of mind. The Second Amendment of 14 August 2025 added Persons with Disabilities to the disadvantaged-groups list.
RBI MD KYC Para 14 , Occasional transactions and wire transfers 14 Aug 2025
Plain summary: Tightened by Second Amendment 2025 on occasional transactions of Rs 50,000 or more and international money-transfer language.
RBI MD KYC Para 16 , Modes of CDD and Aadhaar face authentication 14 Aug 2025
Plain summary: Prescribes the acceptable modes of CDD. Explanation 2 added by the Second Amendment of 14 August 2025 lists Aadhaar face authentication as an acceptable mode.
RBI MD KYC Para 18 , V-CIP standards 14 Aug 2025
Plain summary: Video-based Customer Identification Process. Must be live, audio-visual, informed-consent, geo-tagged, face-liveness checked, data stored within India, and conducted by a trained official.
RBI MD KYC Para 38 , Account freezing on KYC non-compliance 14 Aug 2025
Plain summary: Reporting entities may partially freeze accounts after six months of notice, fully freeze six months thereafter, and ultimately close the account, subject to a notice process.
RBI MD KYC Para 51 , Correspondent banking 14 Aug 2025
Plain summary: Requires understanding of respondent-bank business, management, AML/CFT controls, prohibition on shell-bank relationships and documented sign-off by senior management for new correspondent accounts.
SEBI AML Draft Refresh October 2025 , SEBI AML Draft Refresh October 2025 01 Jan 2024
Plain summary: Draft refresh of the AML Master Circular circulated for comment in October 2025. Includes consultation on crypto-adjacent securitised products and tokenised instruments.
SEBI AML Master Circular , SEBI Master Circular on AML/CFT 01 Jan 2024
Plain summary: The operative SEBI Master Circular on Guidelines on AML Standards and CFT Obligations of Securities Market Intermediaries. 2024 reissue consolidated. Applies to every intermediary registered under Section 12 of the SEBI Act.
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