(1) No private security agency shall appoint or engage or deploy any personnel for the cash transportation activities, unless such personnel has undergone thorough antecedent check and his proper KYC verification and police verification is done, before appointing or engaging or deploying them by the agency, in accordance with the provisions of the Act or any other law for the time being in force.
Explanation: For the purposes of this sub-rule, the expression “KYC” means the know your customer process of an agency or business identifying and verifying the identity of its clients or person associated or to be associated with the agency or business.
(2) Every private security agency shall be responsible to comply with the following checks before an individual is appointed or engaged to participate in cash transportation activities, namely:-
(a) police clearance certificate – every individual shall obtain the police clearance certificate from his local police station before appointment or engagement;
(b) residence verification – the private security agency shall use its own resources to conduct a physical verification of the residential address of every individual, including general conduct check and the individual shall furnish to the security agency the proof of residential address of at least three years before appointment or engagement for the cash transportation activities;
(c) previous employer check – the private security agency shall use its own resources to conduct reference check with previous employers of the individual, if any;
(d) Aadhaar verification – each individual appointed or engaged for the cash transportation activities shall be antecedent verified through Aadhaar number from the Unique Identification Authority of India;
(e) credit history check – the private security agency shall conduct a credit history check of every individual appointed or engaged to ensure that wilfull credit defaulters are not appointed or engaged for the cash transportation activities;
(f) fidelity insurance – the private security agency shall obtain a fidelity insurance in respect of every personnel appointed or engaged for the cash transportation activities.