FinMin tightens PMLA rules, brings partners with 10% stake under its purview
The finance ministry in India has tightened anti-money laundering rules by reducing the threshold for beneficial ownership from 15% to 10%. The new rules require partners with a 10% stake in a firm to be considered beneficial owners. The ministry also introduced the role of a "Principal Officer" responsible for providing information to the financial intelligence unit.
Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.
