sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Latest Circulars »
 Real Time Gross Settlement (RTGS) System - Implementation of Positive Confirmation
 Real Time Gross Settlement (RTGS) System - Implementation of Positive Confirmation
 Exim Bank's Government of India supported Line of Credit of USD 3.5 million to the Government of the Republic of Suriname
 Subsidiary General Ledger Account and Constituents' Subsidiary General Ledger Account: Eligibility Criteria and Operational Guidelines
 RBI imposes monetary penalty on on Deutsche Bank A.G
 RBI Announces OMO Purchase of Government of India Dated Securities Nov 13, 2018
 Directions under section 35A of the Banking Regulation Act, 1949 (AACS) - Sikar Urban Co-operative Bank Ltd; Sikar (Rajasthan)
 External Commercial Borrowings (ECB) Policy – Review of Minimum Average Maturity and Hedging Provisions
 RBI-Some Thoughts on Credit Risk and Bank Capital Regulation
 Partial Credit Enhancement to Bonds Issued by Non-Banking Financial Companies and Housing Finance Companies
 Alteration in the name of "Qatar National Bank SAQ" to "Qatar National Bank (Q.P.S.C.)" in the Second Schedule to the Reserve Bank of India Act, 1934

RBI-Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme
January, 31st 2015

RBI/2014-15/432
A.P. (DIR Series) Circular No.67

January 28, 2015

To,

All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme.

Madam/ Dear Sir,

Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme

Please refer to our A.P.(DIR Series) Circular No.35 dated September 04, 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 the subject and document 'Improving Global AML/CFT Compliance: on-going process' on October 24, 2014. The statement /document can be accessed from the following URLs :

http://www.fatf-gafi.org/documents/documents/fatf-compliance-oct-2014.html
and
http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/public-statement-oct2014.html

3. Authorised Persons (Indian Agents) are accordingly advised to consider the information contained in the enclosed statement.

4. This, however, does not preclude Authorised Persons (Indian Agents) from legitimate transactions with these countries and jurisdictions.

5. These guidelines would also be applicable mutatis mutandis to all Sub-Agents of the Indian Agents under MTSS and it will be the sole responsibility of the APs (Indian Agents) to ensure that their Sub-agents also adhere to these guidelines.

6. Authorised Persons (Indian Agents) may bring the contents of this circular to the notice of their constituents concerned.

7. The directions contained in this Circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and also under the, Prevention of Money Laundering Act, (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009 and Prevention of Money-Laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification

and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005 as amended from time to time and are without prejudice to permission/approvals, if any, required under any other law.

Yours faithfully,

(B P Kanungo)
Principal Chief General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions