In the context of increasing number of offences involving various modus-operandi such as misuse of export promotion schemes, fraudulent availment of export incentives, unscrupulous imports evading duty by bogus IEC holders etc., the “Know Your Customer (KYC)” guidelines have been put in place to ensure that they are not used intentionally or unintentionally by importers / exporters who indulge in such fraudulent activities.

Accordingly, Regulation 13 of CHALR, 2004, has been suitably amended to provide that certain obligations on the CHAs to verify the antecedent, correctness of Import Export Code (IEC) Number, identity of his client and the functioning of his client in the declared address by using reliable, independent, authentic documents, data or information. In this regard, a detailed guideline on the list of documents to be verified and obtained from the client/ customer is enclosed in the annexure attached.