Home › Circulars › RBI/2011-12/346

FATF Update on High-Risk Jurisdictions: AML/CFT Alert

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2011-12/346 · issued 12 Jan 2012 · ~1 min read
Quick answerRBI directs banks to consider FATF's October 2011 statement on AML/CFT deficiencies in certain jurisdictions. This does not block legitimate trade but requires heightened awareness.

What changed

FATF updated its statement on October 28, 2011, regarding jurisdictions with weak AML/CFT regimes. RBI now asks all scheduled commercial banks and financial institutions to factor this update into their risk assessments.

What it means for you

Banks must incorporate the latest FATF findings into their AML/CFT due diligence processes. While legitimate transactions remain unaffected, enhanced scrutiny on dealings with flagged jurisdictions is expected. This reinforces India's commitment to global financial integrity standards.

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

All Scheduled Commercial Banks (excluding RRBs), Local Area Banks, All India Financial Institutions

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Does this circular prohibit business with the listed jurisdictions?

No. The circular explicitly states it does not preclude legitimate trade and business transactions with those countries.

What should our Principal Officer do?

The Principal Officer must acknowledge receipt of this circular letter to RBI, as advised in paragraph 5.

Is this a new requirement or an update?

This is an update to earlier RBI letters from July 2011, incorporating FATF's latest statement from October 2011.

📜 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Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)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 #1385: DBOD.AML.No.10461/14.01.001/2011-12 — "Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards" dated January 12, 2012”
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/346 DBOD. AML.No. 10461 /14.01.001/2011-12 January 12, 2012 The Chairmen/CEOs of all Scheduled Commercial Banks(Excluding RRBs)/ Local Area Banks / All India Financial Institutions Dear Sir, Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards Please refer to our letters DBOD. AML.No.1454/14.01.001/ 2010-11 and DBOD. AML.No.1456 /14.01.001/2011-12 dated July 27, 2011 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions. 2.  Financial Action Task Force (FATF) has updated its Statement on October 28, 2011 on the subject ( copy enclosed ). 3.  All banks and financial institutions are accordingly advised to consider the information contained in the enclosed statement. 4.  This, however, does not preclude Indian banks or financial institutions from legitimate trade and business transactions with these countries and jurisdictions. 5. Please advise your Principal Officer to acknowledge receipt of this circular letter. Yours faithfully, (P. R. Ravi Mohan) Chief General Manager Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/346 · issued 12 Jan 2012. 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=6935&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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