UCBs – KYC Norms/AML Standards/Combating Financing of Terrorism CFT (RBI/2009-10/260)

RBI/2009-10/260
UBD (PCB) CO.BPD. Cir. No. 33 /14.01.062/2009-10

December 17, 2009

The Chief Executive Officers of
All AD I Category Urban Co-operative Banks

(As per List enclosed)

Dear Sir / Madam,

Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT)

Please refer to our circular UBD (PCB) CO.BPD.Cir.No.18/14.01.062/2009-10 dated October 28, 2009 on risks arising from the deficiencies in AML / CFT regime of Uzbekistan, Iran, Pakistan, Turkmenistan, Sao Tome and Principe.

2. The Financial Action Task Force (FATF) has issued a further Statement on October 16, 2009 on the subject (copy enclosed).  UCBs are accordingly advised to take into account risks arising from the deficiencies in AML / CFT regime of Iran, Uzbekistan, Pakistan, Turkmenistan and Sao Tome and Principe.

3. The Compliance Officer/Principal Officer of the bank should acknowledge receipt of this circular to our Regional Office concerned.

Yours faithfully

(Monisha Chakraborty)
Deputy General Manager

Related posts:

1. RBI Circular on KYC Norms, AML Standards and Combating of Financing of Terrorism
2. Know Your Customer (KYC) Norms/ Anti- Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)
3. KYC Norms/ AML Standards/Combating Financing of Terrorism/Obligation of Authorised Persons under PMLA, 2002, as amended by PML (Amendment) Act, 2009- Cross Border Inward Remittance under MTSS
4. KYC Norms/AML Standards/Combating Financing of Terrorism/Obligation of Authorised Persons under PMLA, 2002, as amended by PMLA (Amendment) Act, 2009- Money Changing Activities
5. Circular on Anti Money Laundering (AML) Standards/Combating Financing of Terrorism