The International Financial Services Centres Authority (IFSCA), on August 3, 2026, issued a circular modifying the IFSCA (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022, in exercise of the powers conferred under the IFSCA Act, 2019 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005. The amendments update reporting obligations, FIU-IND reporting procedures, and customer onboarding requirements for regulated entities operating in International Financial Services Centres.
The circular expands the reporting framework by incorporating Rule 8 of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 into Clause 10.3 of the Guidelines and revises the guidance on filing reports through the FIU-IND FINgate 2.0 portal. It also introduces references to Cross Border Wire Transfer Reports (CBWTRs) alongside existing reporting requirements such as Suspicious Transaction Reports (STRs) and Non-Profit Organization Transaction Reports (NTRs), thereby strengthening AML/CFT reporting obligations for regulated entities.
Further, the Authority has revised the conditions for Video-based Customer Identification Process (V-CIP) and onboarding of Non-Resident Indian (NRI) customers by updating the list of eligible jurisdictions from which IP addresses may originate. The revised list includes the United States, Japan, South Korea, United Kingdom (excluding British Overseas Territories), Canada, UAE, Singapore, Australia, and the European Union, subject to such jurisdictions not being identified by the Financial Action Task Force (FATF) or the Central Government as high-risk jurisdictions for money laundering, terrorist financing, or proliferation financing.
[Circular No. F. No. IFSCA-DAC/7/2024-AMLCFT]
