NBFCs/RNBCs - Anti-Money Laundering/Combating of Financing of Terrorism – Standards

RBI/2012-13/210
DNBS(PD).CC.No304/03.10.42/2012-13

September 17, 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.270/03.10.42/2011-12 dated April 4, 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 June 22, 2012 on the subject (copy enclosed). The statement /document can be accessed from the following URL also:

http://www.fatf-gafi.org/documents/repository/fatfpublicstatement-22june2012.html and 
http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/improvingglobalamlcftcomplianceon-goingprocess-22june2012.html

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,

(Chandana Dasgupta)
Deputy General Manager

Encl: as above