FATF Jurisdictions with AML/CFT Deficiencies: Updated List for Co-op Banks
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2010-11/421 · issued 10 Mar 2011 · ~2 min read
Quick answerRBI directs all state and central co-operative banks to consider the updated FATF statement (Oct 22, 2010) listing jurisdictions with strategic AML/CFT deficiencies. Banks must factor this into their risk assessments and ensure Principal Officers acknowledge receipt.
What changed
FATF issued a new statement on October 22, 2010, updating its list of jurisdictions with strategic AML/CFT deficiencies. This circular forwards that statement to co-operative banks, replacing the earlier August 23, 2010 communication. Banks are now required to consider the latest information in their AML/CFT processes.
What it means for you
Co-operative banks must integrate the updated FATF list into their customer due diligence and transaction monitoring processes, as advised by the RBI circular.
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 bank's risk assessment for jurisdictions with strategic AML/CFT deficiencies.
Ensure your Principal Officer acknowledges receipt of this circular to the concerned RBI Regional Office.
Incorporate the updated list into your AML/CFT policies, especially for enhanced due diligence on cross-border transactions.
Who it affects
State Co-operative Banks, Central Co-operative Banks, Principal Officers of co-operative banks, AML/CFT compliance teams
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 02:20 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
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 referenced in this circular?
The FATF statement dated October 22, 2010, identifies jurisdictions with strategic deficiencies in anti-money laundering and combating financing of terrorism regimes. It calls on those jurisdictions to complete their action plans within a timeframe and urges FATF members to consider the information.
Do I need to take any action if my bank has no exposure to the listed jurisdictions?
Yes. The circular requires all co-operative banks to consider the information in the statement, regardless of current exposure. This is a risk-awareness measure. You must still acknowledge receipt and ensure your AML framework accounts for potential future transactions.
What happens if my Principal Officer does not acknowledge receipt?
The circular instructs the Principal Officer to acknowledge receipt to the concerned RBI Regional Office. Non-compliance may be viewed as a regulatory lapse and could invite supervisory action.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1547: RPCD.CO.RCB.AML.No.10096/07.02.12/2010-11 — "Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards" dated March 10, 2011”
📜 Read the original circular — full text as issued by RBI
RBI/2010-11/421
RPCD.CO.RCB.AML.No.10096/07.02.12/2010-11
March 10, 2011
The Chairmen / CEOs of all State / Central Co-operative Banks
Dear Sir,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Please refer to our letter RPCD.CO.RF.AML.No.2308/07.02.12/2010-11 dated August 23, 2010 forwarding the Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which have strategic AML/CFT deficiencies.
2. FATF, has further issued a Statement on October 22, 2010 ( copy enclosed ) calling upon jurisdictions listed in the Statement to complete the implementation of their action plan within the timeframe. The FATF, in the Statement has called upon its members to consider the information given in the Statement.
3. All banks are accordingly advised to consider the information contained in the enclosed Statement.
4. Please advise Principal Officer of your bank to acknowledge receipt of this circular letter to our concerned Regional Office.
Yours faithfully,
(B.P.Vijayendra)
Chief General Manager
Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/421 · issued 10 Mar 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=6280&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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