Corrigendum SB Order 12/2023 – Revision of KYC / AML / CFT norms

0

Corrigendum SB Order 12/2023 – Revision of Know Your Customer (KYC) / Anti Money Laundering (AML) / Combating the Financing of Terrorism (CFT) norms in respect of POSB

Letter NumberNo. FS-10/22/2023-FS-DOP
Letter Dated29.05.2023
Issued byDepartment of Posts (F.S. Division)
SubjectCorrigendum SB Order 12/2023 – Revision of KYC / AML / CFT norms
Signed By(T C VIJAYAN) Asst. Director (SB-I)
Download PDFClick Here

Corrigendum SB Order 12/2023

Kindly refer the SB Order No. 12/2023 dated 25.05.2023 issued in connection with the subject cited above. In para 2.4.1 (iii) of the Master Circular No. 2 attached with the said order, “does not – exceed” may be read as “exceeds”.

2. Accordingly, para 2.4.1 (iii) may be read as High Risk – Where the customer opens account or applies for purchase of certificates or applies for credit of maturity/prematurity value of any existing savings instrument with an amount exceeding ₹ 10 lakh and balance in all accounts and certificates exceeds ₹ 10 lakh.

3. This may be circulated to all the concerned.

4. This is issued with the approval of Competent Authority.

How useful was this post?

Click on a star to rate it!

Average rating 4.9 / 5. Vote count: 9985

No votes so far! Be the first to rate this post.

Leave A Reply

Your email address will not be published.

error: Content is protected !!