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of <h1>Circular Reminds Authorized Persons to Comply with KYC, AML/CFT Norms Under PMLA; Acknowledgment Required by Principal Officer.</h1> The circular addresses authorized persons regarding compliance with Know Your Customer (KYC) norms, Anti-Money Laundering (AML) standards, and Combating the Financing of Terrorism (CFT) under the Prevention of Money Laundering Act (PMLA), 2002, as amended. It highlights the need to consider risks from jurisdictions with identified AML/CFT deficiencies, as per the Financial Action Task Force (FATF) statements. Authorized persons are advised to inform their constituents and ensure compliance with these guidelines to avoid penalties under the Foreign Exchange Management Act, 1999, and the PMLA. The circular requires acknowledgment of receipt by the Principal Officer.
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