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

RBI/2011-12/443
DNBS(PD).CC. No 257/03.10.42 /2011-12

March 14, 2012

All Non Banking Financial Companies /
Residuary Non Banking Companies

Dear Sir,

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

Please refer to DNBS(PD).CC.No.242/03.10.42/ 2011-12 and DNBS (PD).CC.No.244 /03.10.42/2011-12 dated September 15, 2011 and September 22, 2011 respectively 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 NBFCs/RNBCs are accordingly advised to consider the information contained in the enclosed statement.

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

Yours faithfully,

(Dr Tuli Roy)
Deputy General Manager

Encl: as above