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

RBI/2014-15/319
DCBR.CO.BPD (AD).Cir. No.2 /14.01.062/2014-15

November 26, 2014

The Chief Executive Officer
All State / Central Coop. Banks (StCBs/CCBs)

Madam/ Dear Sir,

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

Please refer to our circular RPCD.RRB.RCB.AML.No.1288/07.51.018/2014-15 dated July 28, 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 October 24, 2014 (copy enclosed). The statement / document can be accessed from the following URL also:

http://www.fatf-gafi.org/documents/documents/public-statement-oct-2014.html

and

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

3. StCBs/CCBs are accordingly advised to consider the information contained in the enclosed statement.

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

5. The Principal Officer should acknowledge receipt of this circular to our Regional Office concerned.

Yours faithfully,

(A.G. Ray)
General Manager

Encl. as above

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