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

RBI/2014-15/148
RPCD.RRB.RCB.AML.No.1288/07.51.018/2014-15

July 28, 2014

The Chairmen / Chief Executive Officers
All Regional Rural Banks (RRBs)
State / Central Coop. Banks (StCBs/CCBs)

Madam/ Dear Sir,

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

Please refer to our letter RPCD.RRB.RCB.AML.No.10292/07.51.018/2013-14 dated March 13, 2014 on risks 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 27, 2014 (copy enclosed). The statement / document can be accessed from the following URL also:

http://www.fatf-gafi.org/documents/documents/public-statement-june-2014.html and
http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-june-2014.html

3. RRBs and StCBs/CCBs are accordingly advised to consider the information contained in the enclosed statement.

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

5. Please advise your Principal Officer to acknowledge receipt of this circular letter to our Regional Office concerned.

Yours faithfully,

(A.G. Ray)
General Manager
Encl. as above


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