StCBs -Know your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) - ربی - Reserve Bank of India
StCBs -Know your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT)
RBI/2010-11/159 August 9, 2010 The Chairmen / CEOs of all State / Central Co-operative Banks Dear Sir, Know your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) Please refer to our letter RPCD.CO.RF.AML.No. 11830/07.02.12/2009-10 dated May 12, 2010 on risks arising from the deficiencies in AML/CFT regime of Iran, Angola, Democratic People's Republic of Korea (DPRK), Ecuador, Ethiopia, Pakistan, Turkmenistan and Sao Tome and Principe. 2. Financial Action Task Force (FATF) has issued a further Statement on June 25, 2010 on the subject (copy enclosed). It may be observed that the statement divides the strategic AML/CFT deficient jurisdictions into two groups as under :
3. All banks are accordingly advised to take into account risks arising from the deficiencies in AML/CFT regime of these countries, while entering into business relationships and transactions with persons (including legal persons and other financial institutions) from or in these countries/ jurisdictions. 4. Please advise Principal Officer of your bank to acknowledge receipt of this letter to our concerned Regional Office. Yours faithfully, (B.P.Vijayendra) Encl: As above |