Overview
FATF grey listing changed
everything for Indian fintechs.
The Prevention of Money Laundering Act and RBI Master Directions on KYC impose comprehensive Anti-Money Laundering obligations on Reporting Entities including fintechs, payment aggregators, NBFCs, and crypto-related businesses. Following aggressive enforcement post-Paytm, regulators are conducting surprise audits and imposing business restrictions for AML deficiencies.
Our audit maps your AML/KYC programme against FATF Recommendations, PMLA requirements, and the relevant RBI Master Direction, assesses your Suspicious Transaction Reporting process, and reviews your transaction monitoring thresholds and escalation procedures.
Why This Matters
The FIU-IND has increased STR analysis intensity significantly. Reporting Entities with inadequate transaction monitoring or delayed STR filing face enforcement actions including licence suspension. Our audit identifies programme weaknesses before the regulator does.
What We Audit
👤
KYC Policy Review
Customer identification, verification, and due diligence procedures mapped against RBI KYC Master Direction.
⚠
Enhanced Due Diligence
PEP identification, high-risk country screening, and enhanced monitoring procedures reviewed.
🔍
Transaction Monitoring
Monitoring thresholds, alert generation, investigation procedures, and escalation matrix reviewed.
📋
STR Filing Process
Suspicious Transaction Report identification criteria, filing process, and FIU-IND reporting reviewed.
🌐
Sanctions Screening
OFAC, UN Security Council, and MHA sanctions list screening procedures reviewed.
📄
Programme Documentation
AML/CFT policy, procedures manual, and training records reviewed for completeness.
What You Receive
AML Programme Assessment - Complete AML/KYC programme mapped against PMLA and RBI requirements with gap analysis.
Transaction Monitoring Review - Threshold adequacy and alert disposition process assessed with recommendations.
STR Process Report - STR identification, preparation, and filing process reviewed with improvement recommendations.
Policy Update Guidance - Required policy and procedure updates identified with template language.
Training Gap Assessment - AML training programme completeness and effectiveness reviewed.
30-Day Support - FIU-IND query responses and regulatory examination preparation advisory.