RBI/2010-11-156
DBOD. AML.No.2329/14.01.037/2010-11
August 9, 2010
The Chairmen/CEOs of all Scheduled Commercial
Banks(Excluding RRBs)/ Local
Area Banks / All India Financial Institutions
Dear Sir,
Know Your Customer (KYC) Norms/ Anti- Money Laundering (AML)
Standards/Combating of Financing of Terrorism (CFT)
As part of its ongoing review of compliance with the AML/CFT standards, the
Financial Action Task Force (FATF) has identified certain jurisdictions which
have strategic AML/CFT deficiencies.
2. FATF, vide its statement dated June 25, 2010 (copy
enclosed) has called upon jurisdictions listed in the statement to complete
the implementation of their action plan within the timeframe. The FATF, in the
statement has called upon its members to consider the information given in the
statement.
3. All banks and All India Financial Institutions are accordingly advised to
consider the information contained in the enclosed statement.
4. Please advise Principal Officer of your bank to acknowledge receipt of
this circular letter.
Yours faithfully,
(Vinay Baijal)
Chief General Manager
Encl: As above