{"id":267695,"date":"2025-03-27T04:26:24","date_gmt":"2025-03-27T04:26:24","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/27\/money-laundering-rules-shouldnt-hurt-the-honest-the-times-of-india\/"},"modified":"2025-03-27T04:26:25","modified_gmt":"2025-03-27T04:26:25","slug":"money-laundering-rules-shouldnt-hurt-the-honest-the-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/27\/money-laundering-rules-shouldnt-hurt-the-honest-the-times-of-india\/","title":{"rendered":"\u2018Money laundering rules shouldn\u2019t hurt the honest\u2019 &#8211; The Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/thumb\/msid-119555469,imgsize-1102089,width-400,resizemode-4\/119555469.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\u2018Money laundering rules shouldn\u2019t hurt the honest\u2019 &#8211; The Times of India\" title=\"\u2018Money laundering rules shouldn\u2019t hurt the honest\u2019 &#8211; The Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>MUMBAI: <!-- -->RBI governor Sanjay Malhotra<!-- --> has said that <!-- -->anti-money laundering laws<!-- --> must have \u201csurgical precision\u201d to target illegal activities in place of blunt tools that hurt even honest citizens.<br \/>The governor\u2019s statement come at a time when customers are complaining about accounts being frozen over periodic <!-- -->KYC requirements<!-- -->, and some seniors being forced to visit branches. He said the Central KYC Records Registry (CKYCR), with over 1 billion records, can transform customer onboarding by streamlining identification and due diligence for both customers and regulated entities.<br \/>Addressing the Private Sector Collaborative Forum of the Financial Action Task Force (FATF) here, Malhotra said that India\u2019s AML-CFT (anti-money laundering-countering the financing of terrorism) framework has been strengthened by sustained collaboration among <!-- -->financial institutions<!-- -->, non-financial businesses, regulators, and govt agencies.<br \/>He added that while India\u2019s financial system has demonstrated resilience in its AML and CFT measures, continuous refinement is necessary to address emerging threats. \u201cThe private sector plays a vital role in keeping financial systems secure,\u201d Malhotra said.<br \/>Malhotra cautioned that threats from <!-- -->money laundering<!-- --> and <!-- -->terror financing<!-- --> are becoming more sophisticated, largely due to technological advancements. \u201cWe need to have laws and regulations which, with surgical precision, target only the illegitimate and illicit, rather than use them as blunt tools which unintentionally hurt even the honest,\u201d he said.<br \/>Malhotra pointed out that stringent compliance requirements should not create barriers for genuine businesses and individuals.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 'paid' : 'free' ;\n                    w._sva.setVisitorTraits({\n                    toi_user_subscription_status : prime_user_status\n                        });\n                }\n         if (w._sva && w._sva.setVisitorTraits) {\n                    setAttributes();\n                } else {\n                    w.addEventListener(\"SurvicateReady\", setAttributes);\n          }\n          var s = document.createElement('script');\n          s.src=\"https:\/\/survey.survicate.com\/workspaces\/0be6ae9845d14a7c8ff08a7a00bd9b21\/web_surveys.js\";\n          s.async = true;\n          var e = document.getElementsByTagName('script')[0];\n          e.parentNode.insertBefore(s, e);\n        })(window);\n      }\n    }\n    window.TimesApps = window.TimesApps || {};\n    var TimesApps = window.TimesApps;\n    TimesApps.toiPlusEvents = function(config) {\n      var isConfigAvailable = \"toiplus_site_settings\" in f && \"isFBCampaignActive\" in f.toiplus_site_settings && \"isGoogleCampaignActive\" in f.toiplus_site_settings;\n      var isPrimeUser = window.isPrime;\n      var isPrimeUserLayout = window.isPrimeUserLayout;\n      if (isConfigAvailable && !isPrimeUser) {\n        loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive);\n        loadFBEvents(f.toiplus_site_settings.isFBCampaignActive);\n        loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections);\n      } else {\n          var JarvisUrl=\"https:\/\/jarvis.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n          window.getFromClient(JarvisUrl, function(config){\n            if (config) {\n              const allowedSectionSuricate = (isPrimeUserLayout) ? config?.allowedSurvicatePrimeSections : config?.allowedSurvicateSections\n              loadGtagEvents(config?.isGoogleCampaignActive);\n              loadFBEvents(config?.isFBCampaignActive);\n              loadSurvicateJs(allowedSectionSuricate);\n            }\n          })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/money-laundering-rules-shouldnt-hurt-the-honest\/articleshow\/119555469.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: RBI governor Sanjay Malhotra has said that anti-money laundering laws must have \u201csurgical precision\u201d to target illegal activities in place of blunt tools that hurt even honest citizens.The governor\u2019s statement come at a time when customers are complaining about accounts being frozen over periodic KYC requirements, and some seniors being forced to visit branches. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":267696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-119555469,imgsize-1102089,width-400,resizemode-4\/119555469.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[205713,53734,289,42874,205712,45579,13689,273,60786,15699,1455,2503,150026,899,28560,73707,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/267695"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=267695"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/267695\/revisions"}],"predecessor-version":[{"id":267697,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/267695\/revisions\/267697"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/267696"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=267695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=267695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=267695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}