News and Press Release - Dated:- 12-2-2019 - Ministry of Finance Posted On: 12 FEB 2019 5:37PM by PIB Delhi As per information received from the Reserve Bank of India (RBI), according to the publicly available information on the Bank of International Settlement s website, the Basel Committee on Banking Supervision issued a Statement on prevention of criminal use of the banking system for the purpose of money-laundering in December 1988, which included a principle on Cooperation with law enforcement authorities . In terms of this Statement, the banks should cooperate fully with National Law Enforcement Authorities to the extent permitted by specific Local Regulations relating to customer confidentiality. Further, where banks become aware of facts which lead to the presumption that money held on deposit derives from criminal activity or that transactions entered into are themselves criminal in purpose, appropriate measures, consistent with law, should be taken. As per information provid

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