India’s anti-money laundering framework has expanded significantly over the past three years. The Prevention of Money Laundering Act (PMLA) now covers a wider range of reporting entities than ever before. In addition, the RBI has tightened KYC/AML obligations for banks and NBFCs, while FIU-IND has issued updated AML/CFT guidelines for virtual digital asset service providers. Similarly, SEBI and IRDAI continue to strengthen compliance expectations across securities and insurance markets. As a result, maintaining an effective AML/CFT program (including counter-proliferation financing controls where applicable) is no longer optional for regulated businesses across India. It is a condition of operating.
Compliance7 Consulting is an AML compliance services provider based in Kochi, Kerala, serving regulated businesses across India and internationally. Our CAMS-certified team brings over 14 years of experience in anti-money laundering, counter-terrorist financing, KYC, customer due diligence, transaction monitoring, sanctions screening and financial crime investigations. As a result, Compliance7 delivers end-to-end AML compliance services tailored to each client’s regulatory obligations, risk profile and business model. Whether you are a bank in Mumbai, an NBFC in Chennai, a fintech in Bangalore or a VASP registered with FIU-IND, Compliance7 provides the expertise you need. In particular, we help regulated entities build, test and maintain compliant AML programs.
AML compliance services we provide
Compliance7 offers a comprehensive range of AML compliance services in India. Each service is designed to address specific regulatory obligations under the PMLA and PML (Maintenance of Records) Rules, RBI Master Directions, SEBI guidelines, IRDAI requirements and FIU-IND reporting standards.
AML/CFT program design and implementation
Building an AML/CFT program from scratch requires a structured approach grounded in your firm’s specific regulatory obligations. Compliance7 therefore designs and implements complete AML/CFT programs covering institutional risk assessment, policy and procedure development, control frameworks, governance structures and board reporting mechanisms. Specifically, every program is built around your entity type, the products you offer and the jurisdictions you operate in. This service is especially relevant for newly licensed entities, startups preparing for regulatory approval and established firms replacing outdated compliance frameworks.
Enterprise-wide ML/TF risk assessment
A documented enterprise-wide ML/TF risk assessment (EWRA) sits at the foundation of every effective AML program. Indeed, the RBI, SEBI, IRDAI and FIU-IND all expect regulated entities to identify, assess and document the ML/TF risks specific to their business. Our team conducts comprehensive risk assessments covering customer risk, product and service risk, geographic risk, delivery channel risk and transaction risk. The output is a board-ready document with clear risk ratings, control mappings and a prioritised action plan.
Independent AML audit and compliance testing
Many regulators require or expect independent review or testing of AML/CFT controls, depending on the regulatory framework applicable to the entity. For this reason, Compliance7 provides independent AML audit services that examine the design and operating effectiveness of your entire compliance framework. Specifically, the audit covers governance, customer due diligence, transaction monitoring, sanctions screening, STR filing, training and record keeping. All findings are then documented in a detailed report with remediation recommendations and a management action tracker.
KYC, CDD and EDD framework development
The RBI’s Master Direction on KYC 2016, as amended, sets out detailed requirements for customer identification, verification, risk categorisation and ongoing due diligence. Compliance7 designs KYC and CDD frameworks that comply with these requirements while remaining operationally efficient. For example, this includes customer risk scoring models and document verification procedures. It also covers beneficial ownership identification (including the revised 10 percent threshold applicable to partnership firms under the amended Rules, with different thresholds for companies, trusts and unincorporated associations), video KYC (V-CIP) procedures and enhanced due diligence for high-risk customers and politically exposed persons.
Transaction monitoring system design and calibration
An effective transaction monitoring system must be calibrated to your firm’s specific risk profile and customer behaviour patterns. Compliance7 therefore helps regulated entities design monitoring rules, set alert thresholds and build investigation workflows. For firms using vendor platforms, we also review and optimise existing configurations through alert tuning, threshold optimisation and model validation to reduce false positives. Similarly, for firms building in-house systems, we define functional requirements and testing protocols.
Sanctions screening implementation
Indian reporting entities must screen customers and transactions against UNSC consolidated lists, the UAPA list maintained by the Ministry of Home Affairs and relevant PEP databases. We implement sanctions screening programs covering onboarding screening, ongoing rescreening and transaction filtering. In addition, we configure screening parameters, test detection accuracy and establish governance procedures for true positive escalation.
STR, CTR and NTR filing support
Every reporting entity registered with FIU-IND must file Suspicious Transaction Reports (STRs) within seven working days of forming suspicion. Additionally, Cash Transaction Reports (CTRs) are required for transactions exceeding ten lakh rupees, along with Non-Profit Organisation Transaction Reports (NTRs) where applicable. Compliance7 assists with FIU-IND registration, FINnet 2.0 portal onboarding and report preparation. We also provide quality assurance of filed reports and remediation of reporting gaps.
AML training programs
The PMLA and RBI Master Directions require regulated entities to provide ongoing AML/CFT training to all relevant staff. We deliver customised training programs covering AML fundamentals, red flag identification, STR filing obligations and sanctions compliance. Moreover, we provide role-specific modules for frontline staff, compliance teams, senior management and board members. Training is available in-person, online or in hybrid formats.
Fractional and outsourced compliance officer services
Not every regulated entity has the scale or budget for a full-time, senior AML compliance officer. In such cases, Compliance7 provides outsourced compliance support services where a CAMS-certified professional assists your designated Principal Officer on a part-time or retainer basis, where permitted under applicable regulations. This includes support for FIU-IND liaison, board reporting and day-to-day compliance operations. In particular, this service is relevant for NBFCs, fintechs, payment aggregators and VASPs that need experienced compliance support without the cost of additional full-time hires.
Regulatory remediation and examination support
When a regulator identifies compliance deficiencies, the response matters as much as the original program. Compliance7 therefore helps regulated entities respond to RBI inspection observations, ED investigations, FIU-IND notices and SEBI or IRDAI directives. Specifically, we develop remediation plans, implement corrective actions and prepare management responses. For entities facing enforcement proceedings under the PMLA, timely and effective remediation is critical. Serious offences under the PMLA may attract imprisonment of three to seven years (or higher in specified cases), while regulatory non-compliance may also result in monetary penalties, supervisory action or enforcement proceedings depending on the applicable regulator.
VASP and crypto compliance
FIU-IND’s latest AML/CFT guidelines for reporting entities providing services related to virtual digital assets have significantly raised compliance expectations. Consequently, VASPs must now meet AML/CFT compliance obligations comparable to those of banks and other regulated financial institutions. Compliance7 provides end-to-end compliance services for FIU-IND registered VASPs. This includes wallet screening, Travel Rule compliance, transaction monitoring for virtual asset typologies, risk assessment and regulatory reporting through FINnet 2.0.
RegTech advisory
Selecting and implementing the right compliance technology can significantly reduce operational costs. It can also improve detection effectiveness. We advise regulated entities on RegTech solutions for identity verification, transaction monitoring, sanctions screening and regulatory reporting. Furthermore, we provide vendor-neutral assessments, requirements definition and post-deployment testing.
Industries we serve
AML compliance services in India are not limited to banks. The PMLA and its associated regulations impose AML/CFT obligations on a wide range of reporting entities across multiple sectors and regulators.
Banks and financial institutions
Commercial banks, cooperative banks, small finance banks, payment banks and regional rural banks fall under the RBI’s Master Direction on KYC and must maintain comprehensive AML/CFT programs. Compliance7 works with banking institutions across India on independent audits, risk assessments, policy reviews, training and remediation.
Non-banking financial companies
The RBI requires every registered NBFC to maintain board-approved KYC/AML policies and appoint a Principal Officer. In addition, NBFCs must conduct periodic KYC updation (every two years for high-risk, every eight years for medium-risk and every ten years for low-risk customers) and file STRs and CTRs with FIU-IND. Compliance7 accordingly provides dedicated AML compliance services for NBFCs across all RBI-registered categories.
Payment aggregators and payment gateways
The RBI’s updated framework for payment aggregators requires board-approved AML/KYC policies, FIU-IND registration and merchant due diligence. Moreover, non-bank payment aggregators must obtain RBI authorisation and comply with the applicable regulatory timelines. Compliance7 consequently helps payment aggregators build compliant frameworks from licensing stage through to ongoing compliance management.
Insurance companies
IRDAI-regulated life and non-life insurance companies must comply with AML/CFT guidelines covering customer identification, risk categorisation, transaction monitoring and STR filing. Compliance7 provides AML consulting services for insurance companies, including policy development, agent training, claims monitoring and regulatory examination support.
Securities market intermediaries
SEBI’s guidelines on AML standards and CFT obligations apply to stock brokers, depository participants, mutual fund intermediaries, portfolio managers and alternative investment fund managers. Compliance7 assists SEBI-regulated entities with compliance program design, periodic independent testing and remediation.
Virtual digital asset service providers
Every entity carrying on notified VDA activities that falls within the PMLA reporting entity framework must register with FIU-IND and comply with FIU-IND’s latest AML/CFT guidelines. As a result, firms need specialist guidance. Compliance7 is among the specialist AML consulting firms in India with deep expertise in both traditional financial institution compliance and virtual asset compliance. This positions us well to support crypto exchanges, wallet providers and NFT marketplaces seeking FIU-IND registration.
Fintech companies
Fintech platforms offering lending, payments, wealth management or insurance distribution services face AML obligations under the PMLA and sector-specific regulations. Whether you hold an NBFC licence, operate as a payment aggregator or function as a lending service provider, Compliance7 provides AML compliance services tailored to your specific regulatory category and business model.
Housing finance companies
Housing finance companies are regulated by the RBI as the primary regulator, with the National Housing Bank (NHB) retaining a supervisory and inspection role. HFCs carry AML/CFT obligations similar to NBFCs. Compliance7 provides compliance services covering KYC frameworks, transaction monitoring, STR filing and independent audits for HFCs.
Forex dealers and money changers
Authorised dealers and full-fledged money changers must comply with RBI and FEMA regulations alongside PMLA obligations. Compliance7 assists forex dealers with AML program design, sanctions screening implementation, cross-border transaction monitoring and regulatory reporting.
Designated non-financial businesses and professions
Real estate agents, dealers in precious metals and stones, lawyers, chartered accountants and company secretaries carry AML obligations under the PMLA where they undertake specified financial transactions or activities notified under the PMLA. Furthermore, as FATF continues to push for stronger DNFBP compliance globally, Indian regulators are increasingly scrutinising these sectors. Compliance7 therefore provides AML consulting for DNFBPs across India, covering risk assessment, customer due diligence, record keeping and STR filing obligations.
Serving clients across India and beyond
Compliance7 Consulting is headquartered in Kochi, Kerala, in the heart of South India. As a result, our location gives us direct access to the growing financial services ecosystem in Kerala. At the same time, our remote delivery model means we serve clients across every state and territory in India.
Kerala and South India
As a specialist AML consulting firm based in Kerala, Compliance7 serves banks, NBFCs, cooperative societies, gold loan companies, chit fund companies and fintech firms across Kerala, Tamil Nadu, Karnataka, Telangana and Andhra Pradesh. Our local presence in Kochi means faster turnaround for on-site engagements across South India, including Bangalore, Chennai, Hyderabad, Coimbatore and Thiruvananthapuram.
Pan-India coverage
AML compliance services from Compliance7 are available to regulated entities across India. We work with clients in Mumbai, Delhi NCR, Pune, Ahmedabad, Kolkata, Jaipur, Lucknow and every other major financial centre. Our engagement model combines remote delivery with on-site visits as needed, ensuring consistent service quality regardless of your location.
International reach
Compliance7’s expertise also extends beyond India. For instance, we have cross-jurisdictional experience covering the UAE (CBUAE, VARA, DFSA), United Kingdom, European Union and Australia (AUSTRAC). Consequently, we support Indian businesses with international operations and international firms seeking AML compliance support for their India operations.
Why regulated businesses choose Compliance7
Regulated entities across India choose Compliance7 for AML compliance services because we combine deep regulatory expertise with practical, implementation-focused delivery.
First, our team holds CAMS certification from ACAMS, one of the most widely recognised credentials for AML professionals, alongside over 14 years of hands-on experience across banking, fintech, crypto, insurance and DNFBP sectors. In other words, we do not just advise. We build, implement, test and maintain AML programs.
Second, Compliance7 provides end-to-end service. From initial risk assessment through policy development, system implementation, training, independent audit and ongoing compliance management, we handle the full lifecycle. This means one firm, one relationship and consistent quality across every element of your AML program.
Finally, we are vendor-neutral on technology. Our RegTech advisory is based on what works best for your entity type, budget and risk profile, not on reseller commissions or technology partnerships.
For firms looking for AML consulting services in India, whether in Kerala, South India or anywhere across the country, Compliance7 is the partner that turns regulatory obligations into operational compliance.
Book a free consultation to discuss your AML compliance needs.
This article is for informational purposes only and does not constitute legal or regulatory advice. For guidance specific to your business, consult a qualified compliance professional.
