RBI/2011-12/410
UBD.CO.BPD (AD) Cir.No.5/14.01.062/2011-12

February 23, 2012

The Chief Executive Officer of
All AD Category I Primary (Urban) Co-operative Banks

Madam/Dear Sir,

Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) – Standards – Primary (Urban) Co-operative Banks

Please refer to our circular UBD. CO.BPD (PCB).Cir.No.2/14.01.062/2011-12 dated August 03, 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. Primary (Urban) Co-operative Banks are accordingly advised to consider the information contained in the enclosed Statement.

4. This, however, does not preclude Primary (Urban) Co-operative Banks from legitimate trade and business transactions with these countries and jurisdictions.

5. The Principal Officer should acknowledge receipt of this circular to our Regional Office concerned.

Yours faithfully,

(M. Nanda Kumar)
General Manager

Encl: As above