KYC/AML obligations require heightened due diligence for transactions with parties from FATF identified high risk jurisdictions under PMLA and FEMA. Authorised Persons must assess and mitigate risks from jurisdictions identified by the FATF as having strategic AML/CFT deficiencies, applying enhanced customer acceptance, ongoing due diligence and transaction monitoring for persons, legal entities and financial institutions from those jurisdictions; the directions are issued under FEMA and the PMLA framework and non compliance may attract penal consequences.