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

RBI/2013-14/426
DNBS(PD).CC. No 364/03.10.42/2013-14

January 1, 2014

All Non Banking Financial Companies excluding
Residuary Non Banking Companies

Dear Sir/Madam,

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

Please refer to DNBS (PD).CC.No.352/03.10.42/2012-13 dated July 23, 2013 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 18, 2013 on the captioned subject and document ‘Improving Global AML/CFT Compliance: On-Going Process’ (copy enclosed). The statement /document can be accessed from the following URL also:

http://www.fatf-gafi.org/media/fatf/documents/statements/18-October-2013.pdf
and
http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-oct-2013.html

3. All NBFCs are accordingly advised to consider the information contained in the enclosed statement. This, however, does not preclude NBFCs from legitimate trade and business transactions with these countries and jurisdictions.

Yours faithfully,

(Sindhu Pancholy)
Deputy General Manager

Encl: as above