Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Money changing activities.

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..... ey changing activities Please refer to our A.P.(DIR Series) Circular No.65 dated May 20, 2011 forwarding the Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which have strategic AML/CFT deficiencies. 2. FATF has further issued a Statement on June 24, 2011 ( copy enclosed ) calling upon jurisdictions listed in the Statement to complete the implementation of .....

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..... intenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005 as amended from time to time. Non-compliance with the guidelines would attract penal provisions of the Act .....

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