SB ORDER NO. 19/2011 - Implementation of AML/CFT norms in Small Savings Schemes- an external inspection of selected post offices by Min. of Finance - regarding.

SB ORDER NO. 19/2011

No. F.No.25-04/2009-FS (Vol-I)

(Part-AML/CFT inspection)

Government of India

Ministry of Communications & IT

Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi-110001, Dated: 14.09.2011

To

All Heads of Circles/Regions

Addl. Director General, APS, New Delhi.

Subject:- Implementation of AML/CFT norms in Small Savings Schemes- an external inspection of selected post offices by Min. of Finance - regarding.

Sir / Madam,

The undersigned is directed to refer to this office SB Order No.4/2011 dated 01.04.2011 vide which inspection questionnaire on AML/CFT norms in Small savings Schemes and manner of reporting was circulated.

2.             Ministry of Finance, Department of Economic Affairs, Budget Division being regulator for implementation of AML/CFT norms in Small savings Schemes has decided that National Savings Institute (NSI) will act as Inspection Wing of Budget Division for the purpose of AML/CFT norms in Small savings Schemes and their Regional Directors in the respective States will carry out external inspection of selected post offices.

3.             It is requested that necessary action may be taken immediately to inform the field units to be prepared for the external inspections and raise the level of Implementation of AML/CFT norms including reporting of Cash and Suspected Transactions and record keeping to 100%. All inspecting authorities may also see the level of implementation of these norms during their visit to all post offices including EDBOs.

4.             This issues with the approval of Member (Tech.)

Yours faithfully,

(Kawal Jit Singh)

Assistant Director (SB)