Search results
Oct 15, 2019 · Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) /Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules framed there under
Banks should ensure that their respondent banks have anti money laundering policies and procedures in place and apply enhanced 'due diligence' procedures for transactions carried out through the correspondent accounts.
The purpose of this Anti-Money Laundering Policy (“AML Policy”) is to prevent any involvement by our Company in money laundering activity even where the involvement may be unintentional.
Jun 2, 2024 · Anti-money laundering (AML) refers to legally recognized rules, national and international, that are designed to thwart hiding criminal profits inside the financial system.
Effective anti-money laundering and combating the financing of terrorism (AML/CFT) policies and measures are key to the integrity and stability of the international financial system and member countries’ economies.
Jun 6, 2024 · Under the Indian AML framework, there are no parallel state or provincial criminal offences. The offence of money laundering as recognised under the PMLA is applicable throughout India, and the enforcement actions are taken by the ED/FIU at national level.
An Anti-Money Laundering Policy (AML Policy) is a set of internal rules to detect and manage money laundering risk and related predicate offenses. A well-framed AML policy assists the reporting entity in India to protect its business from being exploited by money launderers.
