NABARD advices banks to upload five returns on steps taken by banks to Anti-Money Laundering and Counter Financing of Terrorism

NABARD vide circular dated 07 September 2020 has Revised the KYC returns to be filed in ENSURE Portal. Prior circular dated 12 July 2017 advised banks to submit a set of two returns, “KYC Statistics” and “KYC Directions- Status of Compliance” through ENSURE portal.

Banks are now required to upload five returns focusing on the steps taken by banks with regard to Anti-Money Laundering and Counter Financing of Terrorism. The list of five retums are as under:

• KYC-I: KYC Directions -Status of Compliance -existing return has been modified. Quarterly w.e.f. 30 June 2020
• KYC II: AML/CFT -new return Half-Yearly w.e.f. FROM 31 March 2020
• KYC III: Legal and AADHAAR Status -new return Half Yearly w.e.f. 31 March 2020
• KYC IV: KYC Statistics Quarterly since 30 June 2017.
• KYC V: Training on KYC/AML/CFT, Yearly since 31 March 2020