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

RBI/2010-11/435
UBD.CO.BPD (PCB) Cir.No. 7/14.01.062/2010-11

March 17, 2011

The Chief Executive Officer of
All AD Category I Primary (Urban) Co-operative Banks

Dear Sir,

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

Please refer to our circular UBD (PCB) CO.BPD.Cir.No.17/14.01.062/2010-11 dated October 25, 2010 forwarding the Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which have strategic AML/CFT deficiencies.

2. FATF has further issued a Statement on October 22, 2010 (copy enclosed) calling upon jurisdictions listed in the Statement to complete the implementation of their action plan within the timeframe. The FATF, in the Statement, has called upon its members to consider the information given in the Statement.

3. The Urban Co-operative Banks are accordingly advised to consider the information contained in the enclosed Statement.

4. The Compliance Officer/Principal Officer of the bank should acknowledge receipt of this circular to our Regional Office concerned.

Yours faithfully,

(M.Nanda Kumar)
Deputy General Manager

Encl: As above

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