Using Get4x in Mumbai

For transactions amounting to R$50,000 or above, customers need to show proof of identification before the transaction can proceed. Money changers will have to perform thorough due diligence, not just to avoid incurring fines and facing stricter punishments, but to uphold their reputation, as the slow court processing in India would mean money changers who are thought to be involved in a money laundering schemes would not be able to clear their name for a long time, even if they are innocent. Hence, the dealers may implement thorough Know Your Customer procedures and undertake transactions only after ensuring customer credentials so that their business operations will not be compromised by the negative publicity.