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Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) - Standards

RBI/2015-16/258
DBR. AML. No. 7312/14.01.001/2015-16

December 3, 2015

The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All authorised persons including those who are agents of Money Transfer Service Scheme

Dear Sir/ Madam,

Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) - Standards

Please refer to our letter DBR. AML. No. 1637/14.01.001/2015-16 dated July 30, 2015 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.

2. Financial Action Task Force (FATF) has updated its Public Statement and document ‘Improving Global AML/CFT Compliance: on-going process’ on October 23, 2015 (copies enclosed). The statement and document can be accessed from the following URL also:

fatf-gafi.org/publications/high-riskandnon-cooperativejurisdictions/documents/public-statement-october-2015.html and
fatf-gafi.org/publications/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-october-2015.html

3. All Regulated Entities (REs) are advised to take note of the FATF Public Statement and FATF document and be guided accordingly.

4. This, however, does not preclude REs from legitimate trade and business transactions with the countries and jurisdictions mentioned in the statement.

Yours faithfully,

(Thomas Mathew)
General Manager

Encl: As above

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