IFSCA issues Anti–Money Laundering, Counter-Terrorist Financing and KYC guidelines for Regulated Entities

Notification No. IFSCA/2022-23/GN/GL001, Dated 28.10.2022

IFSC Authority has notified the IFSCA (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022. These Guidelines shall apply to every Regulated Entity which is licensed, recognised or registered by IFSCA and also to the Regulated Entities authorised by it.

Further, these guidelines shall also apply to a Financial Group of the Regulated Entity. As per the guidelines, “Regulated Entity” means a unit/entity which has been granted license, recognition, registration or authorisation by the Authority.

“Financial Group” means a group that consists of a parent company or of any other type of legal person exercising control and coordinating functions over the rest of the group, together with branches and/or subsidiaries that are subject to AML/CFT policies and procedures at the group level. Also, these guidelines shall come into force w.e.f 28.10.2022.

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