The Presidents/Chief Executives of
All Authorized Dealers in Foreign Exchange
Framework for Managing Risks of Trade Based Money Laundering and Terrorist Financing
Attention of the Authorized Dealers (ADs) is invited to FE Circular No. 04 dated October 14, 2019 on the above subject.
2. In terms of instructions given in Para 5 (a) & (b) of the subject framework, Authorized Dealers are required, inter alia, to complete the Risk Profiling of Customers and develop their distinct trade related Risk Profile by April 30, 2020. In view of the prevailing circumstances due to COVID-19 outbreak and representation from the banking industry, it has been decided to extend the aforementioned deadline up to September 30, 2020.
3. All other instructions related to above subject shall remain unchanged.
4. Authorized Dealers are advised to bring the above instructions to the knowledge of all their constituents for meticulous compliance.