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FATF adopts India's mutual evaluation report; hails anti-money laundering regime, advises quick prosecution

The Paris-headquartered body leads global action to tackle money laundering, terrorist and proliferation financing.
Last Updated : 28 June 2024, 10:27 IST

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Singapore: The Financial Action Task Force (FATF) Plenary on Friday adopted the mutual evaluation report of India's anti-money laundering and countering the financing of terrorism regime during its plenary meeting held here.

In its brief outcome statement, the global body said that India's legal regime in these two domains was achieving good results.

It, however, said the country needs to address delays relating to concluding money laundering and terrorist financing prosecutions.

The final evaluation report for the country will be published later when the "quality and consistency review" is completed, it said.

The Paris-headquartered body leads global action to tackle money laundering, terrorist and proliferation financing.

India's mutual evaluation on FATF guidelines, a measure that checks a country's efficacy to make effective laws and policy and implement them to check financial crimes, was last done in 2010.

An FATF peer review of India ended early this year after the team made an 'on-site' or a physical visit to New Delhi and met officials from various intelligence and investigative agencies.

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Published 28 June 2024, 10:27 IST

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