Circular No. SEBI/HO/DDHS/DDHS-POD1/CIR/P/2023/67, dated: 09.05.2023
Earlier, the Financial Intelligence Unit – India (FIU-India), issued a letter dated April 19, 2023 addressing designated directors and principal officers of Debenture Trustees (DTs).
The letter outlined specific guidelines including red flag indicators for detecting suspicious transactions by the Debenture Trustees under Rule 7(3) of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005.
Now, the SEBI has directed that all Reporting Entities falling under the DT segment registered in the FINNET 1.0 system of the Financial Intelligence Unit are required to re-register themselves in the FINNET 2.0 system/module.
The FINNET 2.0 module aims to provide quality financial intelligence for safeguarding the financial system from the abuses of money laundering, terrorism financing, and other economic offences.
Further, those reporting entities who have not yet registered themselves with FIU-India are required to be registered in the FINNET 2.0 system/ module of FIU-India immediately in light of the FATF mutual evaluation.
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