Money Changer (FFMC) Compliance

An authorised money changer or Full-Fledged Money Changer (FFMC) dealing in foreign currency must comply with the RBI's directions — periodic returns, strict KYC and anti-money-laundering obligations, transaction reporting, and the conduct rules for the foreign-exchange business.

The firm runs the ongoing FFMC compliance so the licence stays in good standing.

Money-changer compliance covers, including:

• Periodic returns to the RBI
• KYC and anti-money-laundering compliance
• Transaction recording and reporting
• Adherence to the FFMC conduct and rate rules
• Renewal and amendment of the authorisation

1. 01

   Map obligations

   Set out the RBI returns and AML/KYC requirements.

2. 02

   Build the calendar

   Establish the reporting and renewal calendar.

3. 03

   File & monitor

   File the returns and monitor the KYC/AML compliance.

4. 04

   Renew

   Handle authorisation renewals and amendments.

PBT keeps your money-changing business RBI-compliant.

• RBI returns filed on time
• KYC/AML obligations met
• Transaction reporting maintained
• Authorisation renewals handled
• Scope, deliverables, and fees agreed in writing up front

• What is an FFMC?

  A Full-Fledged Money Changer authorised by the RBI to buy and sell foreign exchange for specified purposes. It carries continuing RBI compliance, which we run.

• How strict are the KYC/AML rules?

  Very — money changers are closely watched for money-laundering risk. We keep the KYC, recording, and reporting tight.

• How long does it take?

  Compliance is ongoing; returns and reporting run on their cycles, with periodic authorisation renewals.