Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme.
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Cross border inward remittance agents must apply FATF guidance and enhance scrutiny for transfers involving high risk jurisdictions. Authorised Persons under the Money Transfer Service Scheme must consider the FATF 28 October 2011 public statement identifying jurisdictions with strategic AML/CFT deficiencies, apply enhanced scrutiny and risk mitigation for cross border inward remittances, ensure their Sub agents adhere to these guidelines, notify constituents and Principal Officers, and acknowledge the circular; the directions are issued under FEMA and the PMLA.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
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Cross border inward remittance agents must apply FATF guidance and enhance scrutiny for transfers involving high risk jurisdictions.
Authorised Persons under the Money Transfer Service Scheme must consider the FATF 28 October 2011 public statement identifying jurisdictions with strategic AML/CFT deficiencies, apply enhanced scrutiny and risk mitigation for cross border inward remittances, ensure their Sub agents adhere to these guidelines, notify constituents and Principal Officers, and acknowledge the circular; the directions are issued under FEMA and the PMLA.
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