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of <h1>Indian Agents Must Update AML/CFT Practices Per FATF Guidelines; Ensure Sub-Agents' Compliance Under FEMA and PMLA.</h1> The circular addresses all authorized Indian agents under the Money Transfer Service Scheme regarding updated Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) standards. It refers to a statement by the Financial Action Task Force (FATF) on global AML/CFT compliance and advises agents to consider this information. While legitimate transactions with certain jurisdictions are not precluded, agents must ensure their sub-agents adhere to these guidelines. The directions are issued under the Foreign Exchange Management Act, 1999, and the Prevention of Money Laundering Act, 2002, as amended. The circular emphasizes compliance with these standards.
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