India's Financial System Gets FATF Stamp of Approval

The Financial Action Task Force (FATF) has adopted a mutual evaluation report of India's anti-money laundering and counter-terrorism financing systems, marking a significant milestone. While it praised India's legal regime, it highlighted the need to address delays in prosecutions. The final report will be published after a quality review.

The Financial Action Task Force (FATF) on Friday recognized India's efforts to strengthen its anti-money laundering and counter-terrorism financing systems by adopting a mutual evaluation report.

This development, considered a 'significant milestone' by the Indian government, underscores the progress and effectiveness of India's legal framework in combatting financial crimes.

Nonetheless, the global watchdog indicated that India must address delays in concluding money laundering and terrorist financing prosecutions. The final evaluation report will be published following a comprehensive quality and consistency review.

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