Anti-Money Laundering (AML) & KYC Compliance
AML and KYC compliance under the PMLA — policies, customer due diligence, FIU-IND registration and reporting, and record keeping.
- Estimate Cost
- ₹25,000 – ₹2,00,000
- Typical duration
- 15 days
Service overview
- Anti-Money Laundering (AML) and KYC compliance ensures that regulated businesses identify their customers, monitor transactions and report suspicious activity under the Prevention of Money Laundering Act, 2002, and international standards
- Strong frameworks protect you from penalties and reputational damage
Who needs it? / When is it needed?
- Reporting entities such as NBFCs, payment firms, fintechs, VDA (crypto) service providers, brokers, dealers in precious metals and stones, and real estate agents.
- Certain professionals carrying out specified financial transactions for clients.
- When starting regulated operations, or preparing for an audit or regulator inspection.
What to expect from the WCP Professionals
- AML and KYC gap assessment and risk assessment.
- Drafting of AML/CFT policies, CDD/EDD procedures and UBO identification.
- Set-up of transaction monitoring, sanctions and PEP screening.
- FIU-IND registration and appointment of the Principal Officer and Designated Director.
- STR and CTR filing support, staff training and audit assistance.
Key deliverables
- AML risk assessment report.
- AML/KYC policy and SOP manual.
- FIU-IND registration.
- Monitoring and screening framework.
- Training sessions and audit readiness file.
Standard turnaround time
- Gap assessment and policy drafting: 2–4 weeks.
- FIU-IND registration: 1–3 weeks.
- Ongoing reporting: STRs within 7 days of forming a suspicion; CTRs (where applicable) monthly by the 15th.
Government fees, timelines & key outcomes
- No government fee for FIU-IND registration.
- Records must be maintained for at least 5 years.
- Non-compliance can attract monetary penalties and regulatory action.
- Key outcome: a regulator-ready AML programme that reduces financial crime risk.
Forms & filings involved
- FIU-IND FINnet registration.
- Suspicious Transaction Reports (STR), Cash Transaction Reports (CTR) and other prescribed reports.
- Board-approved AML policy and periodic compliance reports.
Documents required
- Certificate of incorporation, licences and business model details.
- Customer onboarding process and product details.
- Details of the Principal Officer and Designated Director.
- Existing policies and transaction data.
What we need from you
- Board approval of policies.
- Access to systems and transaction data.
- Commitment to staff training and ongoing monitoring.
Important conditions
- Tipping off a customer about an STR is prohibited.
- Compliance is ongoing, not a one-time exercise.
- Sector regulators (RBI, SEBI, IRDAI) may impose additional KYC norms
Additional information
- Periodic re-KYC and policy reviews are required.
- Related services: Data Privacy & GDPR Compliance, FEMA, Cross-Border Tax Compliance.
The estimated cost covers indicative professional fees only. Government fees, stamp duty and taxes are payable at actuals.
How it works
- 1. Raise a service enquiry describing your requirement.
- 2. A Relationship Manager reviews it and opens it for bidding.
- 3. Pay into escrow and assign the professional you select.
- 4. Track progress to completion, then accept and release payment.
Frequently asked questions
Who must comply with the PMLA?
Reporting entities such as banks, NBFCs, intermediaries, crypto service providers and certain professionals and dealers notified under the Act.
What is an STR?
A Suspicious Transaction Report filed with FIU-IND when a transaction appears suspicious.
How long must records be kept?
At least five years under the PMLA, or longer where other rules require.
Are professionals covered by the PMLA?
Yes, CAs, CSs and CMAs are reporting entities when they carry out specified transactions for clients, such as buying property or managing funds.