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Money Laundering Prevention Act 2064

Preamble
Chapter – 1 Preliminary
- Section1: Short Title, Extent, and Commencement
- Section 2: Definition
Chapter-2 Offence Relating To Money Laundering and Terrorist Financing
Chapter-3 Provision On Customer Identification And Transactions
Chapter-3A Regulation and Supervision of Reporting Entities
Chapter-3B Committee of Directors and Co-ordinating Committee
- Section 7W: Board of Directors
- Section 7X: National Coordination Committee
Chapter-4 Financial Information Unit
Chapter-5 Structure of Department and Its Functions, Responsibilities and Powers
- Section 11: Establishment of the Department
- Section 12: Exchange of Cooperation Regarding Investigation
Chapter-6 Provisions on Investigation and Inquiry
Chapter-6A Currency and Bearer Negotiable Instruments
Chapter-6B Freezing of Property and Funds
Chapter-7 Punishments
Chapter-8 Miscellaneous
Schedule (Related to Section 2 of Clause (e))
- Associated Offences

Chapter-3 Provision On Customer Identification And Transactions

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Sections

Section 6: Not to Do Business Under an Anonymous or Fictitious Name
Section 7: Not to Establish or Operate a Shell Bank
Section 7A: Identifying the Customer
Section 7B: Special Provision to the Identification of High-Ranking Persons
Section 7C: Identification of Beneficial Ownership
Section 7D: Provisions for the Risk Assessment and Management
Section 7E: Identification of the Customer Due Diligence (CDD)
Section 7F: Simplified Customer Identification System
Section 7G: Provision for Identification of Existing Customers
Section 7H: Time Frame for the Identification of the Customers
Section 7I : Continuous Monitoring
Section 7J: Identification and Verification by Third Party
Section 7K: New Technology or Non-Face to Face Customer or Transactions
Section 7L: Liability For Wire Transfers
Section 7M: Provision on Cross-Border Correspondent Banking
Section 7N: Special Monitoring of Certain Transactions
Section 7O: Not Conduct Transaction
Section 7P: Responsibilities of Reporting Entity
Section 7Q: Liability of Branch Office or Subsidiary Company
Section 7R: Record Keeping
Section 7S: Obligation of Reporting Suspicious Transactions

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Chapter-3 Provision On Customer Identification And Transactions

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