Anti-Money Laundering(AML)/Combating Financing Terrorism(CFT) - India in the Global Context

  Latin term “rogatorius” means seeking information. Letters Rogatory are the letters of request sent by the Court of one country to the Court of another country for obtaining assistance in investigation or prosecution of a criminal matter. Letters rogatory are the customary method of obtaining assistance from abroad in the absence of a treaty or executive agreement. A letter rogatory is a request from a judge in India  to the judiciary of a foreign country requesting the performance of an act which, if done without the sanction of the foreign court, would constitute a violation of that country's sovereignty. Prosecutors should assume that the process will take a year or more. Letters rogatory are customarily transmitted via the diplomatic channel, a time-consuming means of transmission. The time involved may be shortened by transmitting a copy of the request through Interpol, or through some other more direct route, but even in urgent cases the request may take over a month t...

  Embargo   Embargoes serve as a powerful tool to impose a comprehensive ban on trade, investment, and economic activities, specifically targeting a particular country or group of countries. These measures are strategically implemented to apply pressure on a nation, compelling it to reconsider its policies, actions, or address potential threats. The scope of an embargo can range from restricting specific goods and services to imposing comprehensive economic barriers affecting multiple sectors. Example :  EU embargo on Russia In response to the Russian involvement in the conflict in Ukraine that started in early 2014, the EU imposed on 31 July 2014 sanctions against Russia, including an arms embargo, by adopting Council Decision 2014/512/CFSP, and Council Regulation (EU) No 833/2014. The sanctions prohibited any involvement in the supply of arms and services related to military to Russia or dual use items for military use or military end-users in Russi...

There are sectoral agencies under the respective REs who conduct AML/KYC trainings as well as general institutions that cater to PMLA 2002 and basic KYC aspects.  Benefits of AML/KYC certification Helps professionals develop their knowledge of AML and KYC standards Helps professionals develop their professional competence Helps professionals build compliance teams for financial services companies Some programmes that have come across author's   searches during Jan 2025 are listed below: This does not advocate any programme per se. It is for the readers to satisfy themselves about own needs and undertake the study. Authors have no quality checks or otherwise on any of that sorts regarding these institutions and their programmes. Each sector has specific working knowledge and so prescribes specific examinations. However, there are certain courses that cater to general needs at different levels in the profession.  Global agencies like FATF, IMF, World bank etc..al...