RBI/2010-11/471
A.P. (DIR Series) Circular No. 52
A.P. (FL Series) Circular No. 14
April 06, 2011
To,
All Authorised Persons, who are Indian Agents under Money Transfer Service
Scheme.
Madam/ Dear Sir,
Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT)
Standards - Cross Border Inward Remittance under Money Transfer Service Scheme
Attention of all Authorised Persons, who are Indian Agents under Money Transfer
Service Scheme (MTSS) is invited to Paragraph 5.10 (b) of Annex-I, Annex to A.P.
(DIR Series) Circular No.18 {A.P. (FL Series) Circular No.5} dated November 27,
2009 on the captioned subject.
- Financial Action Task Force (FATF) has issued a further Statement on October
22, 2010 on the subject (copy enclosed) calling 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.
- All Authorised Persons (Indian Agents) are accordingly advised to consider the
information contained in the enclosed Statement.
- Authorised Persons (Indian Agents) may bring the contents of this circular to
the notice of their constituents concerned.
- Please advise your Principal Officer to acknowledge receipt of this circular
letter.
- The directions contained in this Circular have been issued under Section 10(4)
and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and
also under the Prevention of Money Laundering Act, (PMLA), 2002, as amended by
Prevention of Money Laundering (Amendment) Act, 2009 and Prevention of
Money-Laundering (Maintenance 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 Acts concerned or Rules made there under.
Yours faithfully,
(Smt. Sujatha Elizabeth Prasad)
Chief General Manager