The Ministry of Finance issued Notification No. S.O. 32(E) Dated January 3, 2025, announcing the appointment of the Director of Financial Intelligence Unit, India (FIU-IND) as the Nodal Officer under Section 13 of the Prevention of Money Laundering Act, 2002 (PMLA).
This appointment has been made in pursuance of clause (b) of sub-section (3) of Section 79 of the Information Technology Act, 2000, and rule 3(1)(d) of the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021.
The notification takes effect from the date of the official publication
Powers of the Nodal Officer Under Section 13 of PMLA
The Director may, on their own initiative or upon receiving an application from any authority, officer, or person, conduct or order an inquiry regarding the obligations of a reporting entity under this Chapter.
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At any stage during an inquiry or other proceedings, if the Director considers it necessary due to the nature and complexity of the case, they may direct the reporting entity to have its records audited by a chartered accountant from a panel maintained by the Central Government. The expenses incurred for audits under such direction will be borne by the Central Government.
All information obtained during an inquiry by the Director must remain confidential unless specified otherwise by existing laws. If the Director finds non-compliance by a reporting entity, its designated director, or employees during an inquiry, they may take one or more of the following actions:
The Director is required to forward a copy of any order passed under these provisions to every banking company, financial institution, intermediary, or any other relevant party involved in the proceedings. For the purpose of these provisions, an “accountant” is defined as a chartered accountant as per the Chartered Accountants Act, 1949.
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Extract from the Notification
S.O. 32(E) – In pursuance of clause (b) of sub-section (3) of Section 79 of the Information Technology Act, 2000 (21 of 2000) read with clause (d) of sub-rule (1) of Rule 3 of the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021, the Central Government hereby designates the Director, Financial Intelligence Unit, India, as the Nodal Officer for the purposes of the said rules in respect to Section 13 of The Prevention of Money Laundering Act, 2002.
This notification shall remain in force from the date of its publication in the Official Gazette.
[F. No. N-24015/5/2024-Computer Cell]
Mukesh Sundriyal, Under Secretary (Computer Cell)
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