Anti-Money Laundering Guidelines

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..... d Money Changers issued vide A. P. (DIR Series) Circular No.18 {A.P. (FL Series) Circular No.01} dated December 2, 2005. In view of the difficulties expressed by Authorised Money Changers (AMCs) in implementing some of the guidelines, it has been decided to amend certain instructions of the aforementioned circular. The amended instructions are given in the Annex. 2. The Anti-Money Laundering Guid .....

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..... an Chief General Manger Annex [Annex to A. P. (DIR Series) Circular No. 39 dated June 26, 2006] Paragraph No. [cf. A. P. (DIR Series) Circular No.18 {A.P. (FL Series) Circular No.01} dated December 2, 2005] Existing Instructions Amended Instructions 3 All transactions should be undertaken only after proper identification of the customer. Photocopies of proof of identification should inva .....

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..... f US $ 2000 or its equivalent, the photocopies of the identification document should be maintained for a minimum period of five years. 4(c) Requests for payment of sale proceeds in cash may be acceded to the extent of US $ 1000 or its equivalent per transaction. All encashment within one month may be treated as a single transaction for the purpose. In all other cases, AMCs should make payment .....

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