Question

Which of the following conditions must be satisfied for a Regulated Entity (R

Q: Answer-Which of the following conditions must be satisfied for a Regulated Entity (RE) to rely on third-par...

RBI permits reliance on third-party CDD to reduce duplication, but only under strict safeguards 1. Immediate access to records The RE must be able to access customer details without delay. 2. Regulated third party The third party must be subject to regulation and supervision under the PMLA Prevention of Money Laundering Act and related guidelines. 3. Jurisdictional safeguards The third party must not be located in a high-risk countryjurisdiction identified by FATF. 4. Verification The RE must independently ensure that identification data and other relevant information are available and authentic. Therefore, the correct answer is All of the above.