When all these consultations about reforming the global financial architecture have been on, I have increasingly felt that India has been leading in many of what we now term as the international best practices in banking and finance. 3. India’s lead in economics is, of course, well known and well accepted.
apply appropriate CDD measures to identify and verify the identity of their customers, including the beneficial owners, and conduct ongoing monitoring; iv. adequately detect and report suspicious transactions; and v. comply with other AML/CFT requirements.