Concurrent Audit (Part IV) | KYC | CTR | STR | PMLA 2002

In this video, I have focussed on the KYC policy and its elements namely, Customer Acceptance Policy (CAP), Risk Management, Customer Identification Procedure (CIP), and Monitoring of Transactions. I have also covered the important provisions of the Prevention of Money-laundering Act (PMLA) 2002 with respect to the Suspicious Transactions, Maintenance of Records, the manner in which the records have to be maintained, Retention of Records, time limits, submission of the Cash Transaction Report and Suspicious Transaction Report to Financial Intelligence Unit. As a concurrent auditor, you are supposed to be aware of these provisions because they play a crucial role in risk reduction and ensure the proper compliance with the anti-money laundering laws and the RBI’s directions. ___________________ About Us: We are an educational platform. Our specialty lies in the areas of governance, economics, finance, ethics, and law. However, you would also find us venturing out of our defined boundary line and covering everything that matters the most, including the trending hot topics. ___________________ Support Us: If you like our content, please consider supporting us: Phonepe: +91 7903382113 ___________________ Other Platforms: Twitter: twitter.com/aeontalksTM Facebook: facebook.com/aeontalks Insta: Instagram.com/aeontalks My personal Insta: Instagram.com/1ashutoshshukla ___________________ For General Knowledge: Please check out    / channel   (The Academic Point) for a quick GK revision for your competitive exams. ___________________ Disclaimer: We are an educational platform, and all our videos are purely for educational and research purposes. We are not a substitute for your regular schools or classes. We recommend that you attend your offline classes in addition to watching our videos. Your reliance on our content for any purpose whatsoever is solely based on your discretion. We assume no liability for the damages you or your agents suffer as a result of such reliance. Our content must not be brought into a use that is unlawful in the eyes of law. ___________________ Copyright: We respect your intellectual property rights and are committed to protecting the same. All third-party contents used in our videos comply with the fair use principle. Our use of any third-party content is limited to education, research, review, criticism, parody, and pastiche, permitted under copyright laws. Although we remain extra careful in using third-party content, we agree that we too can make mistakes. If you believe that we have used your copyrighted material in our videos and such use goes against the fair use principle, please let us know. Our email address is given in the “about” section of this channel. We assure full cooperation in protecting your rights. ©aeontalks 2022 #Auditing #Audit #ConcurrentAudit #aeontalks #ashutoshshukla