IFSCA (AML, CTF, & KYC) Compliance Handbook

IFSCA (AML, CTF, & KYC) Compliance Handbook

GIFT City has been the centre of attraction for global investors seeking to establish their businesses and become part of the thriving ecosystem. The International Financial Service Centre Authority (IFSCA) has proactively enacted various rules and regulations to ensure the proper conduct of business.

Accordingly, to counter Money Laundering and Terrorist Financing risks, the IFSCA has issued the International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022, providing a robust AML framework for identifying and mitigating risks associated with financial crimes.

This compliance handbook will help you understand the applicability of the AML, CFT, and KYC Regulations in IFSC and guide you through the compliance obligations as laid down in the IFSCA guidelines.

Moreover, it provides a breakdown of the step-by-step process of IFSCA compliance requirements, encompassing:

AML Principal Officer Appointment
– FINGate Registration
– ML/FT Enterprise-Wide
Risk Assessment
AML/CFT Policies and Procedures
Customer Due Diligence
– Targeted Financial Sanctions
– Identifying and Reporting Suspicious Transactions
– AML Governance

By understanding these steps, you can easily meet the compliance obligations as provided under the IFSCA (AML, CTF and KYC) guidelines when operating within IFSC and safeguard your business against financial crimes.

This comprehensive guide outlines the AML compliance requirements for IFSC entities. Check it out to effectively comply with the IFSCA regulatory framework 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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