India's FIU-IND lists NBFCs as non-compliant for missing FINnet 2.0 registration
→NBFCs cannot file FIU-IND reports until FINnet 2.0 registration is complete
Change
India's Financial Intelligence Unit (FIU-IND) listed non-banking financial companies as non-compliant for failing to complete mandatory FINnet 2.0 registration under the Prevention of Money Laundering Act.
Why it matters
FINnet 2.0 registration is a prerequisite for accessing FIU-IND reporting systems. Entities must complete registration for the reporting entity, a Principal Officer, and a Designated Director to enable AML/CFT filings.
Implications
- → NBFC compliance teams must complete FINnet 2.0 registration immediately — reporting access remains blocked until all registration stages are completed.
- → NBFC management teams must appoint and register a Principal Officer and Designated Director — missing role registration prevents activation of FIU-IND reporting access.
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Source
View on FIU-IND