Test Objectives-NISM-IFSCA-01 Anti Money Laundering and Counter Terrorist Financing in IFSC

Test Objectives – NISM-IFSCA-01 Antimoney Laundering and Counter Terrorist Financing in IFSC (w.e.f. November 27, 2025)

PART A: General Rules and Regulations related to Anti-Money Laundering in India

Chapter 1: Introduction to Anti Money Laundering (AML), Combating the Financing of Terrorism (CFT) and Proliferation Financing (PF)

• Concept of money laundering
• Process of money laundering (Placement/ Layering/ Integration)
• Global initiatives towards Anti Money Laundering Laws
• Indian initiatives towards Anti Money Laundering Laws

Chapter 2: Prevention of Money Laundering Act, 2002

• Prevention of Money Laundering Act, 2002
• Maintenance of records and furnishing of reports to FIU-IND
• Main authorities entrusted for investigations

Chapter 3: PML (Maintenance of Records) Rules, 2005

• PMLR
• Maintenance of Records of Transactions
• Digital Know Your Customer (KYC) Procedure

Chapter 4: Scheduled Offences

• Concept of Offence
• List of Scheduled Offences

PART B: IFSCA Regulations for Anti Money Laundering (AML), Counter-Terrorist Financing (CTF) and Know Your Customer (KYC)

Chapter 5: IFSCA (Anti Money Laundering, Counter Terrorist Financing and Know Your Customer) Guidelines, 2022

• A Regulated Entity (RE)
• Duties of a RE
• Risk Based Approach to be adopted by the RE
• Adoption of the Business Risk Assessment by RE
• requirements of Third Party Reliance,
• Identification and Reporting of Suspicious Transactions,
• Correspondent Banking and Wire transfer
• Internal Policies, Compliance, Audit and Training, and
• Record Keeping.

Chapter 6: IFSCA Guidelines for KYC Norms

• IFSCA guidelines for KYC norms
• Customer Due Diligence Process
• Customer Due Diligence Requirements
• Accounts of Politically Exposed Persons
• Enhanced Due Diligence
• Simplified Customer Due Diligence
• Ongoing customer due diligence
• Ongoing sanctions screening
• Failure of Regulated Entity to conduct or complete customer due diligence
• Guidelines regarding risk-based approach for Periodic Updation of CDD
• Differences between IFSCA Guidelines and Other Guidelines regrading AML, CFT, PF and KYC norms in India

Chapter 7: Discussion on PMLA related Cases

• FIU-IND V/S Bybit Fintech Limited (Bybit), a Virtual Digital Asset Service Provider
• IFSCA V/S Prowess Insurance Brokers Pvt. Ltd. (PIBPL)
• FIU-IND V/S Way2Wealth Brokers Private Limited
• FIU-IND vs Paytm Payments Bank Limited

Chapter 8: Financial Action Task Force and Its Recommendations on AML and CFT

8.1 FATF

8.2 FATF Recommendations

8.3 IX Special Recommendations of FATF

8.4 FATF-Style Regional Bodies (FSRBs)

8.5 Trade-based Money Laundering

8.6 The International Trade System