Get audit-ready for India AML
India Anti-Money Laundering and Counter-Terrorist Financing Obligations · Prevention of Money-laundering Act 2002, its Maintenance of Records Rules 2005 and sector regulator directions
Obligations India's money laundering law places on reporting entities: reporting-entity status, the Designated Director and Principal Officer, risk assessment, client due diligence and KYC, enhanced due diligence, beneficial ownership and the Central KYC Records Registry, record keeping and retention, reporting to FIU-IND, and sanctions and proliferation financing duties. A sector category brings in the RBI, SEBI, IRDAI and IFSCA directions, set aside by the entity's sector. Readiness tracker; Indian legal review is pending.
India AMLWhat is India AML?
Obligations India's money laundering law places on reporting entities: reporting-entity status, the Designated Director and Principal Officer, risk assessment, client due diligence and KYC, enhanced due diligence, beneficial ownership and the Central KYC Records Registry, record keeping and retention, reporting to FIU-IND, and sanctions and proliferation financing duties. A sector category brings in the RBI, SEBI, IRDAI and IFSCA directions, set aside by the entity's sector. Readiness tracker; Indian legal review is pending.
Who it applies to
Reporting entities under the Act when they carry on business in India: banks and non-banking finance companies, securities market intermediaries, insurers, entities in an International Financial Services Centre, virtual digital asset service providers, real estate agents, dealers in precious metals and stones, casinos, and other designated businesses or professions. Which duties apply depends on the sector, and the sector regulator's directions bind only the entities it regulates.
How the standard is organised
Statute and Rules grouped into scope and reporting-entity status, officers, risk assessment, policies and monitoring, client due diligence and KYC, enhanced due diligence, beneficial ownership and the Central KYC Records Registry, record keeping, reporting to FIU-IND, and sanctions and proliferation financing, plus a sector regulator category, summarised here as 78 obligation topics, each tied to its provision.
Framework names, marks and abbreviations (ISO, SOC 2, PCI DSS, TISAX, HIPAA, GDPR and others) are trademarks of their respective standards bodies and are used here only to describe what the Bitkosh Readiness Platform helps you track and prepare for. The badges shown are original Bitkosh artwork, not the official marks. Bitkosh Technologies is not affiliated with, sponsored by, or endorsed by ISO, AICPA, the PCI Security Standards Council, ENX/VDA, or any other framework owner, and using this platform does not by itself confer or guarantee certification — certification/attestation is granted only by the relevant accredited third-party body.
India AML on the Bitkosh platform
The 78 India AML controls sit in one workspace with gap assessment, evidence collection and your readiness score, and shared controls count towards the equivalent requirement in the other 47 ready frameworks at the same time — so a second framework costs a fraction of the first.
How the platform worksSample controls
Six controls from the platform's control library, chosen because they are the most specific to this framework.
- RBI KYC MD para 53Daily UNSCR 1718 list check
Check the UNSCR 1718 sanctions list every day for additions, deletions and other changes, and comply with the related implementation order.
Sector regulator obligations - PMLA s.11A(2)-(3)Other modes offered; Aadhaar voluntary
Where Aadhaar authentication is used, also offer the other modes of identification, and never deny a service because the client has no Aadhaar number.
Client due diligence and KYC - WMDA s.12A (match)No matching transactions; inform the nodal officers
Do not carry out a transaction that matches the designated list, and inform the Central Nodal Officer with full particulars without delay, copying the State Nodal Officer and the regulator.
Sanctions and proliferation financing - UAPA s.51A Order 5.1(iv), 5.3Stop transactions and comply with freeze orders
Where a match is beyond doubt, prevent the designated person from transacting and tell the Central Nodal Officer; comply strictly with any freeze order issued under section 51A.
Sanctions and proliferation financing - PMLR r.9(9A)Non-profit client registered on DARPAN
Banks, financial institutions and intermediaries: register a non-profit client on the NITI Aayog DARPAN portal if not already registered; keep that record for five years after the relationship ends or…
Beneficial ownership and CKYCR - PMLR r.9(3)(a)-(c)Beneficial owner of company, firm, association
Identify the natural person owning more than 10 per cent of a company or partnership firm, or controlling it by other means, or more than 15 per cent of an association or body of individuals.
Beneficial ownership and CKYCR
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Frequently Asked Questions
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