RBI/2011-12/350
RPCD.CO.RCB.AML.No.7036/07.02.12/2011-12
RPCD.CO.RCB.AML.No.7036/07.02.12/2011-12
January 16, 2012
The Chairmen / CEOs of all State / Central Co-operative Banks
Dear Sir,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Please refer to our letters RPCD.CO.RCB.AML.No.1286/07.02.12/2011-12 and RPCD.CO.RCB.AML.No.1287/07.02.12/2011-12 dated August 3, 2011 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Action Task Force (FATF) has updated its Statement on October 28, 2011 on the subject (copy enclosed).
3. All State and Central Co-operative Banks 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 these countries and jurisdictions.
5. Please advise Principal Officer of your bank to acknowledge receipt of this circular letter to our concerned Regional Office.
Yours faithfully,
(C.D.Srinivasan)
Chief General Manager
Chief General Manager
Encl: As above
Source: RBI
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