The Finance Ministry issued a notification on 3rd May 2023 making the changes to the relevant sections of the Prevention of Money Laundering Act, 2002, or PMLA, and making it applicable to all client transactions done by any Practicing CA, CS and CWA. The Finance ministry vide another notification dated 9th May 2023 brought directors, nominee shareholders, formation agent of Companies/ LLPs under the purview of PMLA.
The Panel discussion shall be on:
1. Understanding the basics of PMLA
2. Understanding the amendments and its impact on CA
3. The responsibilities cast on the CA by the recent amendments
4. The process to implement the responsibilities cast on the CA under the PMLA
5. The probable issues in implementation and way forward for Practicing CA