AML / KYC Policy

Stuti Forex Pvt. Ltd. is committed to the highest standards of Anti-Money Laundering (AML) compliance and actively cooperates with regulatory authorities. This policy is in accordance with the Prevention of Money Laundering Act, 2002 (PMLA), FEMA, 1999, and RBI Master Directions for Authorized Dealers.

1. Regulatory Framework

Our AML program is governed by: Prevention of Money Laundering Act, 2002 (PMLA); Foreign Exchange Management Act, 1999 (FEMA); RBI Master Direction – Know Your Customer (KYC) Direction, 2016 (as amended); and guidelines issued by the Financial Intelligence Unit – India (FIU-IND). We are registered with FIU-IND as required for authorized money changers.

2. Know Your Customer (KYC)

We apply a strict KYC process for all customers. Mandatory KYC documents include: Passport (valid, both sides — front photo page and address page); PAN Card (both sides, mandatory for all transactions above ₹25,000 as per RBI); confirmed Air Tickets (onward and return); Visa (where applicable); and one recent passport-size photograph. All documents are verified in person. Photocopies are self-attested by the customer.

3. Transaction Monitoring

We monitor all foreign exchange transactions for suspicious patterns. Transactions of ₹50,000 and above must be settled through banking channels (NEFT/RTGS/IMPS/UPI) — no cash accepted for high-value transactions. Cash transactions above ₹10 lakh equivalent are subject to Currency Transaction Report (CTR) filing with FIU-IND. Multiple transactions appearing to be structured to avoid reporting thresholds are flagged and reported.

4. Suspicious Transaction Reporting (STR)

Any transaction that appears unusual, lacks economic rationale, or is suspected to involve proceeds of crime is reported to FIU-IND as a Suspicious Transaction Report (STR) within the prescribed time. Our staff is trained to identify red flags including unusually large amounts, customers reluctant to provide KYC, multiple small transactions on the same day, and transactions inconsistent with customer profile.

5. Record Keeping

All KYC documents and transaction records are maintained for a minimum of 5 years as required under PMLA. Records include customer identification documents, transaction receipts and bills, A2 forms for outward remittances, and CTR/STR filings. These records are available to regulatory authorities upon request.

6. Staff Training

All our staff members are trained on AML/KYC requirements, identification of suspicious activity, proper KYC document verification, and reporting obligations. Training is conducted periodically and upon any regulatory updates.

7. Right to Refuse

We reserve the right to refuse any transaction where: (a) the customer fails to provide adequate KYC documents; (b) the transaction appears suspicious or inconsistent with the customer's declared purpose; (c) we have reasonable grounds to believe the transaction may be linked to money laundering or terrorist financing. We may also terminate business relationships with customers who are found to have provided false information.

8. Principal Officer

In compliance with PMLA, we have designated a Principal Officer responsible for overseeing AML compliance, maintaining records, and filing reports with FIU-IND. For AML-related queries, contact: stutiforex@gmail.com | +91 99582 72268