FIU-IND
The Financial Intelligence Unit - India, established in 2004 as the central national agency for receiving, analysing, and disseminating information on suspected financial activity to law enforcement and international counterparts.
South Asia · Country coverage
AML/CTF Compliance in India
India regulates AML/CTF through the RBI, SEBI, IRDAI, FIU-IND, and the Prevention of Money Laundering Act, 2002. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for India
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIURBI, SEBI and IRDAI (sector supervisors); FIU-IND (Financial Intelligence Unit - India)
FATF statusFATF member
Primary legislationPrevention of Money Laundering Act, 2002 (PMLA)
Overview
AML/CTF compliance in India.
India regulates AML/CTF through the Reserve Bank of India, SEBI, and IRDAI, which supervise the banking, securities, and insurance sectors, and through FIU-IND, the Financial Intelligence Unit established in 2004, which receives reports and can itself impose penalties on reporting entities under the PMLA. The Prevention of Money Laundering Act, 2002 has applied to all financial institutions and intermediaries since 1 July 2005.
Designated service providers must verify customer identities, apply risk-based profiling with periodic review, appoint a compliance officer, and run internal audits. They file Suspicious Transaction Reports with FIU-IND within seven days, submit monthly Cash Transaction Reports for cash transactions above INR 1,000,000, and preserve records for at least 10 years.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
Reserve Bank of India (RBI)
The central bank and primary financial regulator, responsible for bank licensing and for developing and enforcing AML/CFT rules in line with FATF standards.
Prevention of Money Laundering Act, 2002 (PMLA)
India's principal AML statute. Extended to all financial institutions and intermediaries from 1 July 2005, it sets customer identification, record-keeping, and reporting duties.
SEBI and IRDAI
The Securities and Exchange Board of India and the Insurance Regulatory and Development Authority of India set and supervise AML/CFT rules for the securities and insurance sectors respectively.
Obligations
What regulated businesses must do.
- Verify customer identities and apply risk-based customer profiling
- Conduct periodic customer review and enhanced monitoring of high-risk accounts
- Appoint a compliance officer to oversee the AML programme
- File Suspicious Transaction Reports with FIU-IND within seven days
- File monthly Cash Transaction Reports for cash transactions above INR 1,000,000
- Preserve records for at least 10 years after the relationship ends
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in India?
Supervision is split by sector. The Reserve Bank of India supervises banks and other regulated financial institutions, the Securities and Exchange Board of India supervises the securities sector, and the Insurance Regulatory and Development Authority of India (IRDAI) supervises insurers. FIU-IND is the financial intelligence unit, and it also enforces the PMLA reporting duties directly, with power under section 13 to issue compliance orders and impose penalties on reporting entities.
What is the main AML law in India?
The Prevention of Money Laundering Act, 2002 (PMLA) is India's principal AML statute. It extended to all financial institutions and intermediaries from 1 July 2005 and sets customer identification, record-keeping, and reporting duties.
Is India a member of FATF?
Yes. India is a member of the Financial Action Task Force, and the RBI aligns the country's AML/CFT regime with the FATF standards.
How does MemberCheck support AML compliance in India?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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