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

RBI/2013-14/257
DPSS. CO. AD. No. 626/02.27.005/2013-14

September 13, 2013

Chief Executive Officers of
All the Payment System Operators Authorised under the PSS Act, 2007

Dear Sir

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

Please refer to our circular DPSS.CO.AD.No.2051 /02.27.005/2012-13 dated May 8, 2013 on risk arising from the deficiencies in AML/CFT regime of certain jurisdictions.

2. Financial Action Task Force (FATF) has updated its Statement on the subject and document ‘Improving Global AML/CFT Compliance: On-Going Process’ on June 21, 2013 (copy enclosed). The statement / document can be accessed from the following URLs also:
http://www.fatf-gafi.org/topics/key/public-statement-june-2013.html
and
http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/compliance-june-2013.html

3. All the Payment System Operators authorised under the Payment and Settlement Systems Act, 2007 are accordingly advised to consider the information contained in the enclosed Statement. This, however, does not preclude Payment System Operators from legitimate trade and business transactions with these countries and jurisdictions.

4. Nodal Officer/Principal Officer may please acknowledge receipt of this circular.

Yours faithfully

(K C Anand)
General Manager

Encl: As above


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