FATF AML/CFT Standards for Payment System Entities
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2010-11/375 · issued 18 Jan 2011 · ~1 min read
Quick answerRBI directs all authorised payment system operators to review and act on FATF's October 2010 statement identifying jurisdictions with strategic AML/CFT deficiencies, reinforcing earlier guidance from August 2010.
What changed
RBI forwarded FATF's October 22, 2010 statement calling on jurisdictions to complete their AML/CFT action plans within set timeframes. It reminded payment system entities to consider this information and also referenced a prior circular (DBOD.AML.No.2329/14.01.037/2009-10) listing deficient jurisdictions.
What it means for you
Payment system operators must stay vigilant about AML/CFT risks linked to certain jurisdictions. This circular reinforces that compliance with FATF standards is non-negotiable, and entities should integrate these updates into their risk assessment and due diligence processes.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Review the enclosed FATF statement and update your AML/CFT risk assessment accordingly.
Ensure your compliance team references the earlier August 2010 circular on deficient jurisdictions.
Have your Nodal/Principal Officer acknowledge receipt of this circular to RBI.
Who it affects
All authorised payment system operators in India, Compliance and AML/CFT teams of payment entities, Nodal Officers and Principal Officers of these entities
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 02:55 IST
Status change: withdrawn03 Aug 2026, 04:00 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
What is the FATF statement about?
It identifies jurisdictions with strategic AML/CFT deficiencies and calls on them to implement action plans within a specified timeframe.
Do I need to take any action beyond acknowledging receipt?
Yes, you must consider the FATF information in your AML/CFT framework and refer to the earlier August 2010 circular for the list of deficient jurisdictions.
📜 Read the original circular — full text as issued by RBI
RBI/2010-11/375
DPSS. CO. AD. No. 1568/02.27.005/2010-11
January 18, 2011
All the Authorised entities operating payment system in India
Dear Sir
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) – Standards
We are forwarding herewith a copy of the Statement issued on October 22, 2010 by the Financial Action Task Force (FATF) calling upon jurisdictions listed in the Statement to complete the implementation of their action plan within the timeframe (enclosed). The FATF, in the Statement has called upon its members to consider the information given in the Statement.
2. All the Authorised entities operating payment system in India are accordingly advised to consider the information contained in the enclosed Statement.
3. You are also advised to refer to the circular DBOD. AML.No.2329/14.01.037/2009-10 dated August 9, 2010 forwarding the Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which have strategic AML/CFT deficiencies. The said circular is available on our website www.rbi.org.in .
4. Nodal Officer/Principal Officer should acknowledge receipt of this circular letter.
Yours faithfully,
(K. C. Anand)
Deputy General Manager
Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/375 · issued 18 Jan 2011. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6226&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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