https://www.taxtmi.com/circulars?id=8334 KYC, AML and CFT obligations under the Money Transfer Service Scheme require Authorised Persons (Indian Agents) to adopt a risk-based approach to cross-border inward remittances, using FATF Statements and publicly available information to identify jurisdictions that do not or insufficiently apply FATF recommendations, apply enhanced due diligence and ongoing monitoring, examine and document transactions with no apparent economic or lawful purpose, retain findings and records, and ensure Sub-agents comply; directions are issued under FEMA and PMLA and non-compliance may attract penal provisions. en-us Tue, 30 Nov 2010 00:00:00 +0530 Wed, 01 Dec 2010 22:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8334 KYC, AML and CFT obligations under the Money Transfer Service Scheme require Authorised Persons (Indian Agents) to adopt a risk-based approach to cross-border inward remittances, using FATF Statements and publicly available information to identify jurisdictions that do not or insufficiently apply FATF recommendations, apply enhanced due diligence and ongoing monitoring, examine and document transactions with no apparent economic or lawful purpose, retain findings and records, and ensure Sub-agents comply; directions are issued under FEMA and PMLA and non-compliance may attract penal provisions. Circulars FEMA Tue, 30 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8334