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Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards – UCBs/StCBs/DCCBs

RBI/2014-15/546
DCBR.CO.BPD .Cir No.25/14.01.062/2014-15

April 8, 2015

The Chief Executive Officer
All Primary (Urban) Co-operative Banks/
All State/Central Cooperative Banks(StCBs/DCCBs)

Dear Sir / Madam,

Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) -
Standards – UCBs/StCBs/DCCBs

Please refer to our circular UBD.BPD.(AD).Cir.No.1/14.01.062/2014-15 dated November 13, 2014 and DCBR.CO.BPD(AD).Cir.No.2/14.01.062/2014-15 dated November 26, 2014 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 February 27, 2015 (copy enclosed). The statement /document can be accessed from the following URL also :

http://www.fatf-gafi.org/documents/documents/fatf-compliance-february-2015.html

and

http://www.fatf-gafi.org/documents/documents/public-statement-february-2015.html

3. Primary (Urban) Co-operative Banks (UCBs)/DCCBs/StCBs are accordingly advised to consider the information contained in the enclosed statement. This, however, does not preclude banks from legitimate trade and business transactions with countries and jurisdictions mentioned in the statement.

Yours faithfully

(Scenta Joy)
General Manager


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