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of <h1>Indian Agents Must Comply with AML/CFT Standards under MTSS; Follow FATF Guidelines for Safe Transactions.</h1> The circular addresses authorized Indian agents under the Money Transfer Service Scheme (MTSS) regarding compliance with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) standards. It highlights the Financial Action Task Force's statement on deficiencies in certain jurisdictions' AML/CFT regimes and advises agents to consider this information while conducting transactions. The guidelines apply to both agents and their sub-agents, emphasizing their responsibility to adhere to these standards. The circular is issued under the Foreign Exchange Management Act and the Prevention of Money Laundering Act, ensuring compliance with legal requirements without affecting legitimate transactions.
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