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Anti- Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards
September, 07th 2012

RBI/2012-13/193
DPSS. CO. AD. No. 426/02.27.005/2012-13

September 6, 2012

Chief Executive Officers of
All the Payment System Operators Authorised under the PSS Act, 2007

Dear Sir

Anti- Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards

Please refer to our circular DPSS.CO.AD.No.1877 /02.27.005/2011-12 dated April 11, 2012 on risk 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 processes on June 22, 2012 (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 the Payment System Operators authorised under the Payment and Settlement Systems Act, 2007 are accordingly advised to consider the information contained in the enclosed Statement.

4. This, however, does not preclude Payment System Operators from legitimate trade and business transactions with these countries and jurisdictions.

5. Nodal Officer/Principal Officer may please acknowledge receipt of this circular.

Yours faithfully

(K C Anand)
Deputy General Manager

Encl: As above

 
 
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