KYC / AML Policy

1. Introduction

NIMDAUDMSCSL is committed to preventing money laundering and terrorist financing activities. This KYC (Know Your Customer) and AML (Anti-Money Laundering) Policy outlines procedures for customer identification, monitoring, and reporting.

2. Objective

• Verify identity of customers
• Prevent fraudulent activities
• Ensure regulatory compliance
• Monitor suspicious transactions

3. Customer Identification (KYC)

Customers must provide valid documents such as:

• Aadhaar Card
• PAN Card
• Voter ID
• Driving License
• Passport (if applicable)
• Address proof documents

4. Customer Due Diligence (CDD)

• Verification of identity documents
• Address verification
• Risk classification of customers
• Periodic KYC updates

5. Enhanced Due Diligence (EDD)

Additional verification may be required for high-risk customers including:

• Politically exposed persons (PEPs)
• High-value transactions
• Non-face-to-face customers

6. Anti-Money Laundering (AML)

• Monitoring suspicious transactions
• Transaction pattern analysis
• Reporting suspicious activities
• Maintaining transaction records

7. Transaction Monitoring

• Large cash deposits
• Frequent high-value transactions
• Unusual account activity
• Multiple accounts with similar details

8. Record Keeping

• KYC documents stored securely
• Transaction records maintained
• Data retention as per legal requirements

9. Risk Categorization

• Low Risk Customers
• Medium Risk Customers
• High Risk Customers

10. Compliance

This policy complies with applicable laws including the Information Technology Act 2000 and relevant financial regulatory guidelines.

11. Policy Updates

This policy may be updated periodically to reflect regulatory changes.

12. Contact Information