UCBs - KYC Norms/AML Standards/Combating Financing of Terrorism CFT
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.
Deputy General Manager
Encl: As above