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Background
This policy is framed under the Prevention of Money Laundering Act, 2002 (PMLA) and aligned with relevant SEBI circulars and FIU-IND reporting obligations. It lays down controls to prevent Stockology Securities Private Limited from being used for money laundering or terrorist financing.
Policy Objectives
- To establish a robust Customer Due Diligence (CDD) process before client onboarding.
- To monitor and maintain records of reportable cash transactions as prescribed under PMLA rules.
- To monitor and report suspicious transactions, including attempted transactions.
- To discourage and identify money laundering and terrorist financing activities.
- To ensure ongoing compliance with PMLA, SEBI, FIU-IND and Exchange guidelines.
Key AML Controls
- Client identity verification through KYC/e-KYC and risk-based due diligence.
- Transaction monitoring for unusual, complex, unjustified or non-economic patterns.
- Maintenance of records and timely reporting obligations to FIU-IND.
- Designation of a Principal Officer for AML implementation and reporting.
- Designation of a Designated Director for overall compliance oversight.
- Periodic policy review and updates as per regulatory circulars.
Important Roles
Principal Officer: Responsible for AML monitoring, suspicious transaction reporting and coordination with FIU-IND.
Designated Director: Responsible for overall compliance under Chapter IV of PMLA and applicable rules.
For complete clause-by-clause details, please refer to the official document: PMLA Policy.pdf.