Home › Circulars › RBI/2010-11/489

FATF Statement on AML/CFT Deficiencies: Action for Co-op Banks

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2010-11/489 · issued 27 Apr 2011 · ~1 min read
Quick answerRBI directs all StCBs/DCCBs to consider the FATF's February 25, 2011 Statement listing jurisdictions with strategic AML/CFT deficiencies. Banks must factor this information into their risk assessments and ensure the Principal Officer acknowledges receipt to the Regional Office.

What changed

RBI forwarded a fresh FATF Statement dated February 25, 2011, updating the earlier March 10, 2011 communication. The new Statement calls on listed jurisdictions to complete their action plans within specified timeframes and asks FATF members to consider the information provided.

What it means for you

Co-operative banks must incorporate the updated FATF list into their AML/CFT risk frameworks. This ensures that transactions or relationships with entities from deficient jurisdictions receive enhanced scrutiny. Non-compliance could expose banks to regulatory action and reputational risk.

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

Who it affects

State Co-operative Banks (StCBs), District Central Co-operative Banks (DCCBs), Principal Officers of co-operative banks

❓ Common questions

Regulatory timeline

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 deficiencies in anti-money laundering and combating financing of terrorism (AML/CFT) regimes, and calls on them to implement action plans within set timeframes.

Do we need to report anything to RBI?

Yes, the Principal Officer must acknowledge receipt of this circular to the concerned RBI Regional Office as directed.

How should we use this information?

Consider the listed jurisdictions in your customer risk profiling and transaction monitoring processes, applying enhanced due diligence where necessary.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1530: RPCD.CO.RCB.AML.No.12293/07.02.12/2010-11 — "Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards" dated April 27, 2011”
📜 Read the original circular — full text as issued by RBI
RBI/2010-11/489 RPCD.CO.RCB.AML.No.12293/07.02.12/2010-11 April 27, 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.RCB.AML.No.10096/07.02.12/2010-11 dated March 10, 2011 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 February 25, 2011 ( 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, (C.D.Srinivasan) Chief General Manager Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/489 · issued 27 Apr 2011. The plain-English explanation above is BankPulse’s own independent summary.
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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6361&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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