Perceiving a threat of money laundering and terror-financing in banking transactions with Iran, the Reserve Bank of India (RBI) has asked banks and other financial entities to be cautious in their dealings with entities and funds from the Middle East country.The RBI circular issued to banks and other entities operating payment systems in India contained a global market caution notice issued by the Financial Action Task Force (FATF) on Iran.The FATF is an inter-governmental body responsible for making policies at national and international levels to combat money laundering and terror-financing.
Sunday, January 10, 2010
Thappu Evaridhi 1
Perceiving a threat of money laundering and terror-financing in banking transactions with Iran, the Reserve Bank of India (RBI) has asked banks and other financial entities to be cautious in their dealings with entities and funds from the Middle East country.The RBI circular issued to banks and other entities operating payment systems in India contained a global market caution notice issued by the Financial Action Task Force (FATF) on Iran.The FATF is an inter-governmental body responsible for making policies at national and international levels to combat money laundering and terror-financing.
