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

RBI/2013-14/519
RPCD.RRB.RCB.AML.No. 10292/07.51.018/2013-14

March 13, 2014

The Chairmen / CEOs of all Regional Rural Banks /
State and Central Co-operative Banks

Dear Sir/Madam,

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

Please refer to our letter RPCD.RRB.RCB.AML.No.6235/07.51.018/2013-14 dated December 10, 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 February 14, 2014 (copy enclosed). The statement / document can be accessed from the following URLs also :

http://www.fatf-gafi.org/media/fatf/documents/statements/Public-Statement-14-February-2014.pdf and
http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-feb-2014.html

3. All Regional Rural Banks and State / Central Co-operative Banks are accordingly advised to consider the information contained in the enclosed statement.

4. This, however, does not preclude Indian banks from legitimate trade and business transactions with these countries and jurisdictions.

5. Please advise your Principal Officer to acknowledge receipt of this circular letter to our regional office concerned.

Yours faithfully,

(A.G. Ray)
General Manager


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