| Content |
| 1.
Background |
| 2.
Purpose |
| 3.
Scope |
| 4.
The Need To Combat Money Laundering
|
5.
Money Laundering risk assessments
Risk classification
(i) High Risk
(ii) Medium Risk
(iii) Low Risk |
6.
Extra precautions to be taken in the
opening of the following
types of accounts:
Trust accounts
Non face-to-face customers
Correspondent Banking
Fiduciary Accounts
Pooled Accounts |
7.
Know Your Customer and Identification
The Duty to Obtain Identification
The Nature and Level of the Business
to be Conducted
Application of Commercial Judgment |
8.
Establishing Identity 6
Identification Evidence
What is Identity?
Whose Identity Should Be Verified? |
9.
Identification Procedures: General Principles
Certification and Copying Identification
Documents
Records of Identification Evidence
Customer Identification Procedure
a. Information collected for customer
identification purpose
b. KYC Documentation for different types
of liability accounts
c. The practice of obtaining Introduction
d. Individual NR Accounts
e. Mis-spelt Names in the ID Proof documents
f. Minor accounts
g. Joint accounts
h. Society/Associations/Clubs
i. Hindu Undivided Family [HUF]
j. Flexibility in KYC standards to ensure
there is no financial exclusion |
10.
Basic Principles and Objectives of Money
Laundering Prevention
and Compliance
Tipping off
Terrorist Financing |
11.
Recognizing and Reporting Suspicious
Transaction/Activity
What is meant by "suspicion?"
What is meant by reasonable grounds
to suspect |
12.
Know Your Customer - The Basis For Recognising
Suspicions
Monitoring procedures to assist KYC |
| 13.
The Role of the Principal Officer |
14.
Internal Reporting of Suspicious Transactions
Internal Reporting Procedures |
| 15.
Reporting Procedures Under PMLA |
|
16.
Awareness and Training
Creating Awareness
Provision of Information to Relevant
Staff
Contents of Training
Approach to Training
|
|
A
N N E X U R E S
|
| A |
Indicative
list of High-Risk Countries - Annexure
A |
| B |
Medium
Risk Countries
- Annexure B |
| C |
Resident
Individual Account Opening Form - Annexure C |
| D |
Non-Resident
Individual Account Opening Form - Annexure
D |
| E |
An
Indicative List of Suspicious Activities
- Annexure E |
| F |
Suggested
Format For Internal Reporting to PO
- Suspicious
Activity Report - Annexure F |
| G |
Anti-Money
Laundering - Case Studies Of Suspicious
Activities
(Useful For Training Purposes)Annexure
G
|
| H |
Suggested
solutions to certain situations – Annexure H |
