FATF Highlights India's Fight Against Terror Financing and Money Laundering

The Financial Action Task Force (FATF) is set to release a 'mutual evaluation report' on India, highlighting the nation's progress in combating terror financing and money laundering. India scored highly in 37 out of 40 parameters and was placed in the 'regular follow-up' category. However, some areas need improvement.

The Financial Action Task Force (FATF) is poised to reveal a pivotal 'mutual evaluation report' on India's strides against terror financing and money laundering, according to official sources.

Having achieved the highest rating for 37 out of 40 parameters, India was categorized under 'regular follow-up', an elite status shared by just four other G20 nations. The upcoming report will shed light on priority actions, with positive ratings expected in most areas and suggested improvements in a few.

The June plenary session in Singapore saw FATF commend India for its technical compliance, with notable progress in anti-money laundering (AML) and counter-terrorist financing (CFT). Nonetheless, it flagged delays in prosecutions and the need for stronger preventive measures in non-financial sectors like real estate and gems.