Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of Payment System Operators under Prevention of Money Laundering Act (PMLA), 2002 - Clarification on Proof of Address

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Published on July 03, 2014

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Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of Payment System Operators under Prevention of Money Laundering Act (PMLA), 2002 - Clarification on Proof of Address

RBI/2014-15/116
DPSS.CO.AD.No.27/02.27.005/2014-15

July 3, 2014

All Payment System Providers, System Participants
and prospective Prepaid Payment Instrument Issuers

Madam/Dear Sir,

Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/
Combating of Financing of Terrorism (CFT)/Obligation of Payment System
Operators under Prevention of Money Laundering Act (PMLA), 2002 –
Clarification on Proof of Address

Please refer to our circulars/instructions issued from time to time on the captioned subject. In this regard, we enclose a copy of circular DBOD.AML.BC.No.119/14.01.001/2013-14 dated June 9, 2014 (ref. RBI/2013-14/634) issued by our Department of Banking Operations and Development, Central Office, on the same.

2. The Payment System Operators may note the contents of the circular regarding simplification of the requirement of submission of `proof of address’. They may revise their KYC policy in the light of the instructions contained therein and ensure strict adherence to the same.

Yours faithfully,

(Sangeeta Lalwani)
General Manager

Encl: As above