Notifications

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Anti-Money Laundering/Combating Financing of Terrorism – Standards – UCBs

RBI/2010-11/502
UBD.CO.BPD (PCB) Cir.No. 8/14.01.062/2010-11

May 2, 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 – Primary (Urban) Co-operative Banks

Please refer to our circular UBD. CO.BPD (PCB).Cir.No.7/14.01.062/2010-11 dated March 17, 2011 forwarding the Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which gave strategic AML/CFT deficiencies.

2. FATF has further issued a Statement on February 25, 2011 (copy enclosed) calling upon jurisdictions listed in the Statement to complete the implementation of their action plan within the time frame. The FATF, in the Statement, has called upon its members to consider the information given in the Statement.

3. Urban Cooperative 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)
General Manager

Encl: As above


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