FATF Praises India’s Anti-Money Laundering Efforts but Highlights Prosecution Delays

The Financial Action Task Force (FATF) has adopted India's mutual evaluation report on anti-money laundering and countering terrorism financing. While the global body praised India's legal framework for achieving good results, it noted the need for speeding up prosecutions relating to money laundering and terrorism financing.

The Financial Action Task Force (FATF) on Friday endorsed India's mutual evaluation report regarding its anti-money laundering and counter-terrorism financing measures. The report acknowledges India's progress in these areas but underscores the necessity of expediting ongoing prosecutions. The final report will be released after a 'quality and consistency review.'

Based in Paris, the FATF sets international standards for countering illicit financial activities. India previously underwent this evaluation in 2010, and a recent peer review concluded with on-site visits and meetings with various intelligence and investigative agencies earlier this year.