Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme.
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Cross-border inward remittances require enhanced risk-based AML/CFT scrutiny for transactions involving FATF identified jurisdictions. Authorised Persons (Indian Agents) under the Money Transfer Service Scheme must consider the FATF public statement identifying jurisdictions with ML/TF risks and apply risk based scrutiny to transactions and relationships with those jurisdictions; Sub-Agents must comply mutatis mutandis, Principal Officers should acknowledge receipt, and the directions are issued under FEMA and the PMLA without prejudice to other legal approvals.
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.
Provisions expressly mentioned in the judgment/order text.
Authorised Persons (Indian Agents) under the Money Transfer Service Scheme must consider the FATF public statement identifying jurisdictions with ML/TF risks and apply risk based scrutiny to transactions and relationships with those jurisdictions; Sub-Agents must comply mutatis mutandis, Principal Officers should acknowledge receipt, and the directions are issued under FEMA and the PMLA without prejudice to other legal approvals.
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