NISM IFSCA-01 Syllabus: AML and CFT in the IFSC
All 8 chapters of the AML and CFT in the IFSC workbook, with the weightage each carries in the exam.
The NISM-IFSCA-01 workbook has 8 chapters in two parts. Part A (chapters 1 to 4) is the general Indian anti money laundering law: the concepts, the Prevention of Money Laundering Act, 2002 (PMLA), the record-keeping rules under it, and the scheduled offences. Part B (chapters 5 to 8) is specific to the International Financial Services Centre (IFSC) at GIFT City: the IFSCA guidelines on AML, CFT and KYC, the KYC norms, enforcement cases, and the Financial Action Task Force (FATF).
NISM publishes the marks each chapter carries. The paper is 50 questions of 1 mark each, so a chapter's weightage is also the number of questions it is worth.
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Chapter weightage
From the workbook's syllabus outline. Marks are out of 50. Chapters 1 to 4 form Part A and chapters 5 to 8 form Part B.
| Chapter | Marks |
|---|---|
| 1. Introduction to AML, Combating the Financing of Terrorism (CFT) and Proliferation Financing (PF) | 5 |
| 2. Prevention of Money Laundering Act, 2002 | 7 |
| 3. The Prevention of Money-laundering (Maintenance of Records) Rules, 2005 | 7 |
| 4. Scheduled Offences | 3 |
| 5. IFSCA (Anti Money Laundering, Counter Terrorist Financing and Know Your Customer) Guidelines, 2022 | 8 |
| 6. IFSCA Guidelines for KYC Norms | 10 |
| 7. Discussion on PMLA related Cases | 4 |
| 8. Financial Action Task Force and Its Recommendations on AML and CFT | 6 |
| Total | 50 |
Where the marks sit
Part A carries 22 marks and Part B carries 28. Chapter 6 on KYC norms is the heaviest at 10, followed by chapter 5 on the IFSCA guidelines at 8. Together the two IFSCA chapters are worth 18 of the 50 marks. The pass mark is 25, so you need marks from both parts.
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What each chapter covers
Grouped from the December 2025 workbook's sub-headings.
- 1. Introduction to AML, CFT and PF
- What money laundering, terrorist financing and proliferation financing are; the three stages of laundering (placement, layering, integration); global initiatives such as FATF, the UN, the Basel Committee and the Egmont Group; and India's own initiatives, including FIU-IND.
- 2. Prevention of Money Laundering Act, 2002
- Key definitions, the offence of money laundering and its punishment, attachment, adjudication and confiscation; the reporting entity's duty to keep records and report to FIU-IND, and the Principal Officer and Designated Director; and the authorities: the Enforcement Directorate, FIU-IND, the Adjudicating Authority and the Appellate Tribunal.
- 3. The PML (Maintenance of Records) Rules, 2005
- The records a reporting entity must keep and the reports it must file (cash transaction, suspicious transaction, non-profit organisation and cross-border wire transfer reports) with their timelines; client identification, beneficial ownership and officially valid documents; and the digital KYC procedure.
- 4. Scheduled Offences
- What an offence and a predicate offence are under the PMLA, and the offences listed in Parts A, B and C of the Schedule.
- 5. IFSCA (AML, CFT and KYC) Guidelines, 2022
- What the guidelines cover and the duties of a regulated entity; the risk-based approach and business risk assessment; identifying and reporting suspicious transactions; correspondent banking and wire transfers; internal policies, compliance, audit and training; and record keeping.
- 6. IFSCA Guidelines for KYC Norms
- The customer due diligence (CDD) process and requirements for individuals, legal persons and beneficial owners; politically exposed persons; enhanced, simplified and ongoing due diligence; sanctions screening; what happens when CDD cannot be completed; periodic updation; and how the IFSCA guidelines differ from those of other Indian regulators.
- 7. Discussion on PMLA related Cases
- Five enforcement cases: FIU-IND against Bybit Fintech, a virtual digital asset service provider; IFSCA against Prowess Insurance Brokers and against NEO Asset Management; and FIU-IND against Way2Wealth Brokers and against Paytm Payments Bank.
- 8. FATF and Its Recommendations
- FATF's mandate and its lists, the FATF Recommendations and the IX Special Recommendations on terrorist financing, FATF-Style Regional Bodies, and trade-based money laundering in the international trade system.
What kind of paper this is
NISM's stated aim is a common minimum knowledge benchmark for capital market intermediaries on AML and CFT rules in the IFSC ecosystem. The examination objectives are the concepts of AML and CFT, the PMLA and scheduled offences, the guidelines on AML, CFT and PF, the IFSCA AML, CFT and KYC Guidelines, 2022 from a regulated entity's point of view, and FATF and its recommendations.
It is a law and compliance paper. The workbook's sample questions test definitions, who reports what to whom, which due diligence applies to which customer, and how the IFSCA rules compare with the domestic ones.
Check the workbook version
This page follows the December 2025 workbook. NISM revises workbooks when the rules change, and the exam follows the current version. Confirm the version on NISM's NISM-IFSCA-01 course page before you start.
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