Professionals such as chartered accountants, company secretaries and cost accountants have been covered under the ambit of the money laundering law in India
Highlights Professionals such as chartered accountants, company secretaries and cost accountants have been covered under the ambit of the money laundering law in India This imposes on them an obligation, that will be triggered under specified circumstances, to collect and report transactions that are suspicious While it may seem reasonable that such professionals are covered, there is no minimum threshold for the reporting to be attracted and compliance can prove to be cumbersome for smaller entities Professionals may have valid reason to worry...