India to Host FATF's PSCF 2025: Pioneering Financial Transformation

The Financial Action Task Force (FATF) Private Sector Collaborative Forum 2025 hosted by India will focus on global priorities such as payment transparency and digital transformation of financial systems. Discussions will explore evolving threats, financial inclusion, and the use of digital tools in anti-money laundering efforts, fostering international cooperation.

India is set to host the FATF Private Sector Collaborative Forum (PSCF) 2025 in Mumbai from March 25-27, spotlighting global financial priorities. Key discussions will address payment transparency, financial inclusion, and the digital transformation of financial systems, according to the Ministry of Finance.

The Reserve Bank of India and the Department of Revenue are responsible for organizing the event. The forum will engage with global anti-money laundering and counter-terrorist financing challenges. Aiming for increased transparency, the event will delve into beneficial ownership issues and emphasize the use of digital tools to bolster AML/CFT compliance.

With technological advancements like cryptocurrency shaking the financial realm, India's approach to leveraging technology for a risk-based supervisory model offers significant insights. The ministry stated that FATF President Elisa de Anda Madrazo will inaugurate the event, with prominent Indian financial leaders present. This meeting stresses collaboration to strengthen global resilience against financial crimes, engaging stakeholders from various sectors under the FATF's Global Network.

(With inputs from agencies.)