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

RBI/2011-12/444
DBOD. AML.No.13738 /14.01.001/2011-12

March 14, 2012

The Chairmen/CEOs of all Scheduled Commercial Banks(Excluding RRBs)/ Local Area Banks / All India Financial Institutions

Dear Sir,

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

Please refer to our letter DBOD. AML.No.10461/14.01.001/ 2010-11 dated January 12, 2012 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.

2. Financial Action Task Force (FATF) has updated its Statement on February 16, 2012 on the subject (copy enclosed).

3. All banks and financial institutions are accordingly advised to consider the information contained in the enclosed statement.

4. This, however, does not preclude Indian banks or financial institutions from legitimate trade and business transactions with these countries and jurisdictions.

5. Please advise your Principal Officer to acknowledge receipt of this circular letter.

Yours faithfully,

(Deepak Singhal)
Chief General Manager in Charge

Encl: As above


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