(1) For the implementation of this Act or the rules made under this Act or the guidelines issued or the instructions given, the indicator organization shall have a policy on prevention of money laundering and financial investment in terrorist activities based on its country, geographical area, scope of work, size of business, customers, transactions and risks. Procedures shall be made and implemented. (2) The policies and procedures as per sub-section (1) shall include the following subjects:- (a) Internal policy, process and control arrangements in relation to customer identification, business relationship, monitoring, transaction notification, records and other obligations. , (b) Provisions related to continuous monitoring, (c) Provisions to comply with this Act or the rules made under this Act or guidelines or directives issued, (d) Adequate provision of procedures in matters such as recruitment of employees to maintain high-quality staff, ( e) Regular training and refresher arrangements for employees, (f) Effective arrangements for independent monitoring, inspection, auditing and updating of records, (g) Arrangements for identifying and reporting suspicious transactions, (h) This Act or under this Act Other regulations that are necessary to fulfill the obligations in accordance with the rules made or the issued guidelines or the instructions given and to evaluate the effectiveness thereof, and (i) other provisions prescribed by the regulatory body. (3) This Act or the rules made under this Act or the issued guidelines or given In order to continuously fulfill the obligations according to the instructions, the reporting organization shall appoint a management level enforcement officer (Compliance Officer). (4) The reporting organization shall ensure that the following work, duties and rights are available to the enforcement officer as per sub-section (3) and the necessary resources are available for the same: - (a) To obtain access to any records, accounts and accounting related documents necessary in the course of his work, (b) To request any information, information, details or documents from the relevant staff of the reporting organization and(c) perform other actions necessary for the implementation of this Act or the regulations made under this Act or the guidelines or instructions issued under this Act, and (d) perform other actions prescribed by the regulatory body.