Home › Circulars › RBI/2013-14/384

FATF AML/CFT Compliance Update – Oct 2013

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2013-14/384 · issued 29 Nov 2013 · ~1 min read
Quick answerRBI directs banks to consider FATF's updated October 2013 statement on AML/CFT compliance gaps in certain jurisdictions. This does not block legitimate trade with those countries but requires heightened awareness.

What changed

FATF released an updated statement on October 18, 2013, regarding jurisdictions with deficiencies in AML/CFT regimes. RBI now advises banks to factor this updated information into their risk assessments.

What it means for you

Banks must review their AML/CFT procedures in light of FATF's latest findings. While no new restrictions are imposed, lenders should exercise enhanced due diligence for transactions involving listed jurisdictions.

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

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 transactions with the listed jurisdictions?

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

What is the source of the updated information?

The Financial Action Task Force (FATF) issued the updated statement on October 18, 2013, which is available on FATF's website.

📜 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Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)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 #989: DBOD.AML.No.10604/14.01.001/2013-14 — "Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards" dated November 29, 2013”
📜 Read the original circular — full text as issued by RBI
RBI/2013-14/384 DBOD. AML.No.10604/14.01.001/2013-14 November 29, 2013 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 letter DBOD. AML.No.314/14.01.001/ 2013-14 dated July 4, 2013 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions. 2. Financial Action Task Force (FATF) has updated its Statement on the subject and document ‘Improving Global AML/CFT Compliance: On-Going Process’ on October 18, 2013 ( copy enclosed ). The statement / document can be accessed from the following URLs also: http://www.fatf-gafi.org/media/fatf/documents/statements/18-October-2013.pdf and http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-oct-2013.html 3. All banks and financial institutions are accordingly advised to consider the information contained in the enclosed statement.  This, however, does not preclude Indian banks or financial institutions from legitimate trade and business transactions with these countries and jurisdictions. 4. Please advise your Principal Officer to acknowledge receipt of this circular letter. Yours faithfully, (G. Sreekumar) General Manager Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/384 · issued 29 Nov 2013. 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=8597&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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