Section 12(1) in The Prevention of Money-Laundering Act, 2002
(1)Every reporting entity shall. -(a)maintain a record of all transactions, including information relating to transactions covered under clause (b), in such manner as to enable it to reconstruct individual transactions;(b)furnish to the Director within such time as may be prescribed, information relating to such transactions, whether attempted or executed, the nature and value of which may be prescribed;[***][***] [Omitted 'Clause (d)' by Act No. 14 of 2019, dated 23.7.2019.](e)maintain record of documents evidencing identity of its clients and beneficial owners as well as account files and business correspondence relating to its clients.
