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Enhancing Cyber Security for a Safe & Trusted Internet: India’s Information Security Directives

The Indian Computer Emergency Response Team (CERT-In) serves as the national agency for performing various functions in the area of cyber security in the country as per provisions of section 70B of the Information Technology Act, 2000 (https://www.cert-in.org.in/PDF/Notification_regarding_CERT-In.pdf) and (https://www.cert-in.org.in/PDF/G.S.R_20(E).pdf) . CERT-In continuously analyses cyber threats and handles cyber incidents tracked and reported to it. CERT-In regularly

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Issuance of directions by Indian Computer Emergency Response Team (CERT-In)

IT, Cyber Law & Data Protection

The Central Government in terms of the provisions of sub-section (1) of section 70B of Information Technology Act, 2000 (“IT Act, 2000”) has appointed “Indian Computer Emergency Response Team (CERT-In)” on 27th October 2009 under the provisions of sub-section (4) of section 70B of IT Act, 2000 and notified the Information Technology (The Indian Computer

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CROSS BORDER TRANSACTIONS: CRYPTOCURRENCY AND FOREIGN EXCHANGE MANAGEMENT ACT (FEMA)

Cross Border Transactions: Cryptocurrency & Foreign Exchange Management Act (FEMA)

IT, Cyber Law & Data Protection

Cross Border Transfer of cryptocurrency is a significant aspect of its being as cryptocurrencies are traded through online platforms and these platforms facilitate the exchange of cryptocurrency into another currency including a fiat currency. This raises questions under India’s foreign exchange control law, i.e., the Foreign Exchange Management Act (FEMA). This article intends to analyze

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Cryptocurrency Taxation in India : Navigating the Tax Landscape

IT, Cyber Law & Data Protection

Cryptocurrencies have been subjected to the spotlight of the decade and have been grabbing the attention of the tax authorities essentially due to the high prices at which they were seen trading on exchanges in India and across the globe and the regulatory mechanism of taxation has to be determined looking at the current legal

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Food Safety & Packaging Rules for Health Supplements, Nutraceuticals, and Specialty Foods

Food Safety & Packaging Rules for Health Supplements, Nutraceuticals & Specialty Foods

Consumer, Food & Regulatory Law

The Food Safety and Standards Authority of India had notified the Food Safety and Standards (Health Supplements, Nutraceuticals, Food for Special Dietary Use, Food for Special Medical Purpose, Functional Food and Novel Food) Regulations, 2016 in the Gazette of India on 23.12.2016. These regulations will be applicable to foods covered under the following categories: The

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Risk Categorization for Customers: What Reporting Entities Need to Know

Anti-Money Laundering & Financial Crimes

Reporting entities such as banking institutions, financial institutions, intermediaries, and more have various obligations under the Prevention of Money Laundering Act (PMLA), 2002, to maintain records, access information, and perform due diligence. One of the critical aspects of due diligence is the categorization of customers according to their perceived risk levels. In this blog post,

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Reporting entities, such as banks, financial institutions, intermediaries, etc. are responsible for ensuring that they verify the identity of their clients and maintain records of their transactions.

How to Verify the Identity of Clients for Transactions: A Step-by-Step Guide

Anti-Money Laundering & Financial Crimes

In the modern world, businesses must conduct a certain level of due diligence before transacting with their clients. This is to prevent money laundering, terrorist financing, and other forms of illicit financial activities. Reporting entities, such as banks, financial institutions, intermediaries, etc. are responsible for ensuring that they verify the identity of their clients and

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Expanding the Scope of Reporting Entities: Recent Implications on Money Laundering Act Compliance

The Importance of Customer Due Diligence in Banking and Financial Institutions

Anti-Money Laundering & Financial Crimes

Customer due diligence is the process of verifying the identity of customers before conducting business with them. It is a crucial part of the anti-money laundering (AML) and counter-terrorism financing (CTF) framework in the financial sector. Customer due diligence is a key requirement for banks and other financial institutions to identify and manage money laundering

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Expanding the Scope of Reporting Entities: Recent Implications on Money Laundering Act Compliance

Anti-Money Laundering & Financial Crimes

The Ministry of Finance has recently come out with the notification dated May 03, 2023, which widened the ambit of the term “Reporting Entity” as defined in section 2(1)(wa) read with sec. 2 (1)(sa) of the Prevention of Money Laundering Act, 2002 (‘PMLA’). Who is a Reporting Entity? As per Section 2(1)(wa) of the Prevention

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Understanding Due Diligence Requirements for Reporting Entities under PMLA

Understanding the Obligations of Reporting Entities under PMLA

Anti-Money Laundering & Financial Crimes

Reporting entities such as banking institutions, financial institutions, intermediaries, etc., have various obligations to maintain records, access information, and conduct due diligence to prevent money laundering and terrorist financing activities. This comprehensive guide will provide a clear understanding of due diligence requirements for reporting entities. Obligations of Reporting Entities Section 12, 12A, and 12AA of

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