Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme
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AML/CFT compliance: Indian agents must apply FATF guidance for cross-border remittances and inform customers accordingly. Indian agents under the Money Transfer Service Scheme must consider the FATF Statement identifying jurisdictions with strategic AML/CFT deficiencies for cross-border inward remittances, notify constituents and customers of its contents, and have their Principal Officer acknowledge receipt; non-compliance with the prescribed guidelines attracts applicable penal and regulatory consequences.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
AML/CFT compliance: Indian agents must apply FATF guidance for cross-border remittances and inform customers accordingly.
Indian agents under the Money Transfer Service Scheme must consider the FATF Statement identifying jurisdictions with strategic AML/CFT deficiencies for cross-border inward remittances, notify constituents and customers of its contents, and have their Principal Officer acknowledge receipt; non-compliance with the prescribed guidelines attracts applicable penal and regulatory consequences.
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