AML Program Implementation Guide: IFSC Edition

AML Program Implementation Guide: IFSC Edition

India has set up the International Financial Service Centre (IFSC) to position itself as a global investor destination, drawing foreign entities to establish their presence within its borders. With the broad reach of IFSC entities in terms of business and customer base, the risk of financial crime becomes worrisome.

Ensuring the robust implementation of AML programs within IFSC entities is very important in mitigating the risks associated with financial crimes. IFSC-regulated entities are mandated to adhere to the AML/CFT regulations outlined by the regulatory authorities. 

This eBook will help you understand the applicability of the AML/CFT Regulations in IFSC and guide you in implementing an effective AML program while examining the regulatory framework. Moreover, it provides an insightful breakdown of the stepwise process for the effective implementation of an AML program, encompassing:

  1. Assessing the ML/FT Risk by Conducting an Enterprise-Wide Risk Assessment
  2. Developing and implementing the AML Policies, Procedures & Controls
  3. Identifying and Deploying the Right AML Solution
  4. Imparting AML Training
  5. Periodic Review and Audit of the AML Program

By embracing these steps, you can implement a robust AML Program when operating a business within IFSC to safeguard your business against money laundering and terrorism financing while maintaining regulatory compliance.

Explore our comprehensive guide to learn how to effectively implement an AML program and achieve efficiency in AML compliance.

We are committed to assisting proper enforcement of AML and CFT regulations to regulated entities in India by designing a personalised AML framework – policies, internal controls, and procedures – and ensuring effective implementation of the same.

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