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Anti-Money Laundering (AML)/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme (MTSS)
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Anti Money Laundering standards require MTSS Indian agents to apply international risk guidance and ensure sub agent compliance for remittances. AML/CFT standards apply to cross border inward remittances under MTSS, requiring Authorised Persons (Indian agents) to consider international risk guidance, ensure client due diligence, maintain records and verify identity, and to make sub agents comply; legitimate transactions remain permissible and implementation is required under applicable foreign exchange and anti money laundering statutory frameworks.
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Provisions expressly mentioned in the judgment/order text.
Anti Money Laundering standards require MTSS Indian agents to apply international risk guidance and ensure sub agent compliance for remittances.
AML/CFT standards apply to cross border inward remittances under MTSS, requiring Authorised Persons (Indian agents) to consider international risk guidance, ensure client due diligence, maintain records and verify identity, and to make sub agents comply; legitimate transactions remain permissible and implementation is required under applicable foreign exchange and anti money laundering statutory frameworks.
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