ANTI-MONEY LAUNDERING/COMBATING OF FINANCIAL TERRORISM – STANDARDS

CIRCULAR DBR.AML.NO.1637/14.01.001/2015-16, DATED 30-7-2015

Please refer to our letter DBR.AML.No.14746/14.01.001/2014-15 dated April 6, 2015 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.

2. Financial Action Task Force (FATF) has updated its Public Statement and document ‘Improving Global AML/CFT Compliance: on-going process’ on June 26, 2015. The statement and document can be accessed from the following URL also:

http://www.fatf-gafi.org/documents/documents/public-statement-june-2015.html and http://www.fatf-gafi.org/documents/documents/fatf-compliance-june-2015.html

3. All Regulated Entities (REs) are advised to take note of the FATF Public Statement and FATF document and be guided accordingly.

4. This, however, does not preclude REs from legitimate trade and business transactions with the countries and jurisdictions mentioned in the statement.