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of <h1>Indian Agents Must Adhere to KYC, AML, and CFT Standards Under Prevention of Money Laundering Act, 2002.</h1> The circular addresses all authorized Indian agents under the Money Transfer Service Scheme, emphasizing adherence to Know Your Customer (KYC) norms, Anti-Money Laundering (AML) standards, and Combating the Financing of Terrorism (CFT) obligations under the Prevention of Money Laundering Act, 2002, as amended. It highlights the Financial Action Task Force's (FATF) identification of jurisdictions with strategic AML/CFT deficiencies and advises agents to consider this information. Compliance with these directives, issued under the Foreign Exchange Management Act and PMLA, is mandatory, with non-compliance attracting penalties. Agents are urged to inform their constituents and acknowledge receipt of the circular.
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