FATF 'Thumbs Up' Ensures India Will Be among Top Nations on Checks against Money Laundering, Terror Financing: Govt Sources to News18
5 months, 3 weeks ago

FATF 'Thumbs Up' Ensures India Will Be among Top Nations on Checks against Money Laundering, Terror Financing: Govt Sources to News18

News 18  

India has achieved an “outstanding outcome” in the mutual evaluation conducted during 2023-24 by the Financial Action Task Force. The Financial Action Task Force is an intergovernmental organisation established in 1989 as the international watchdog to combat money laundering, terrorist financing, and other related threats to the integrity of the international financial system. According to top government sources, India’s performance accrues significant advantages to its growing economy, as it demonstrates the overall stability and integrity of the financial system. India’s excellent rating will enhance the capacity of our country to lead the global effort on countering cross-border terror financing and money laundering,” a government statement said. This, said government sources, is a significant achievement that ensures India is in the top category of countries on safeguards against money laundering and terrorism financing.

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History of this topic

FATF praises India’s anti-money laundering, terror financing system
3 months ago

FATF praises India’s anti-money laundering, terror financing system

The Hindu  

The Financial Action Task Force, following the release of its mutual evaluation report of India on Thursday, said the country had achieved a high level of technical compliance across the FATF recommendations and had taken significant steps to implement measures to tackle illicit finance. Mr. Aggarwal said the FATF appreciated India’s Jan Dhan-Aadhaar-Mobile initiative and the major boost to cashless …

India faces terror threats from ISIL, Al-Qaeda-linked groups around J&K: FATF report
3 months ago

India faces terror threats from ISIL, Al-Qaeda-linked groups around J&K: FATF report

Hindustan Times  

India faces a disparate range of terrorism threats particularly associated with ISIL or Al-Qaeda linked extremist groups active in and around Jammu and Kashmir, global money laundering and terrorist financing watchdog Financial Action Task Force on Thursday said in its evaluation report that certified India’s robust compliance system. These can be summarised as theatres associated with ISIL or AQ linked …

FATF report praises India's anti-money laundering efforts, warns of Al-Qaeda threats in Jammu and Kashmir
3 months ago

FATF report praises India's anti-money laundering efforts, warns of Al-Qaeda threats in Jammu and Kashmir

India TV News  

New Delhi: The Financial Action Task Force on Thursday its report on India's mutual evaluation on combating terror financing and anti-money laundering regime. The report, titled- "India's measures to combat money laundering and terrorist financing"- praised India's action and underscored New Delhi has implemented an anti-money laundering and combating terror financing system that is effective in many respects. The observation …

FATF likely to release its report on India’s mutual evaluation on September 19
3 months, 1 week ago

FATF likely to release its report on India’s mutual evaluation on September 19

The Hindu  

The Financial Action Task Force is expected to release its report on India’s mutual evaluation, which was adopted at its June 2024 plenary in Singapore, on September 19. The plenary had concluded that India had reached a high level of technical compliance with the FATF’s requirements, and its anti-money laundering, combating financing of terrorism, and counter-proliferation financing regime was achieving …

India achieves an ‘outstanding outcome’ in FATF mutual evaluation 2023-24
5 months, 3 weeks ago

India achieves an ‘outstanding outcome’ in FATF mutual evaluation 2023-24

The Hindu  

India has achieved an outstanding outcome in the Mutual Evaluation conducted during 2023-24 by the Financial Action Task Force, said the government on June 28. It said that India’s performance on the FATF Mutual Evaluation accrued significant advantages to the country’s growing economy, as it demonstrated the overall stability and integrity of the financial system. Stating that the development set …

FATF recognises India’s efforts to combat money laundering, terror financing
5 months, 3 weeks ago

FATF recognises India’s efforts to combat money laundering, terror financing

Deccan Chronicle  

New Delhi: India has achieved an outstanding outcome in the Mutual Evaluation conducted during 2023-24 by Financial Action Task Force. India’s performance on the FATF Mutual Evaluation accrues significant advantages to our growing economy, as it demonstrates the overall stability and integrity of the financial system. This recognition from the FATF is a testament to the rigorous and effective measures …

FATF adopts India's mutual evaluation report, lauds efforts in tackling money laundering, terror financing
5 months, 3 weeks ago

FATF adopts India's mutual evaluation report, lauds efforts in tackling money laundering, terror financing

India TV News  

New Delhi: In a significant milestone, the Financial Action Task Force has adopted its Mutual Evaluation Report in its June 2024 Plenary session held in Singapore, recognising New Delhi's contributions to combat money laundering and terrorist financing. The adoption of its mutual report is a significant milestone in combating money laundering and terror financing as well as contributing to India's …

What is Financial Action Task Force and Why is Its Delegation Visiting India
1 year, 1 month ago

What is Financial Action Task Force and Why is Its Delegation Visiting India

News 18  

A delegation from the Financial Action Task Force, the global money-laundering and terrorist financing watchdog, is scheduled to visit India on Friday as part of the ongoing assessment. The Financial Action Task Force or FATF is an inter-governmental body responsible for setting global standards on anti-money laundering and combating the financing of terrorism. Pakistan, which was earlier in FATF’s grey …

Is India planning to take action against Canada on terror funding?
1 year, 1 month ago

Is India planning to take action against Canada on terror funding?

Firstpost  

The India-Canada diplomatic row may escalate further. After Canada withdrew 41 of its diplomats from India, following New Delhi’s demand of parity, it is being reported that India may move the Financial Action Task Force. Reacting to the announcement, India had then said: “It is in global interest that the world remains clear that Pakistan must continue to take credible, …

India is weaponising FATF recommendations against civil society
1 year, 2 months ago

India is weaponising FATF recommendations against civil society

Al Jazeera  

The October 3 raids on the news website “NewsClick” and the arrest of its founder, Prabir Purkayastha and human resources head, Amit Chakravarty, are the latest attempts by the Indian government to decimate independent and critical media in the country. It targeted many media outlets and non-profits, including Amnesty International, which I represent, with these laws under the guise of …

India has used FATF recommendations to target entire civil society: Amnesty International
1 year, 2 months ago

India has used FATF recommendations to target entire civil society: Amnesty International

The Hindu  

Indian authorities are exploiting the recommendations of a global terrorism financing and money laundering watchdog to target civil society groups and activists and deliberately hinder their work, the Amnesty International said on Wednesday. In its new briefing titled ‘Weaponizing counter-terrorism: India’s exploitation of terrorism financing assessments to target civil society’, Amnesty International says that the recommendations of the Financial Action …

FATF trying to prevent overuse of counter-terror financing rules in non-profit sector
1 year, 4 months ago

FATF trying to prevent overuse of counter-terror financing rules in non-profit sector

The Hindu  

The Financial Action Task Force is looking to revise its current recommendations aimed at safeguarding non-profit organisations from being abused for terrorist financing, to ensure that they do not hurt these organisations’ legitimate activities instead. The international anti-money laundering and anti-terror funding watchdog says that “7 of the Interpretative Note to Recommendation 8 lists examples of measures that countries can …

Financial Probe Agencies’ Officials Hail HC’s PayPal Ruling, Call It Beneficial for FATF Review
1 year, 4 months ago

Financial Probe Agencies’ Officials Hail HC’s PayPal Ruling, Call It Beneficial for FATF Review

ABP News  

Financial investigators hailed the Delhi High Court ruling on PayPal. The ruling passed on July 24, declared the American online payment platform PayPal as a ‘reporting entity’ under the anti-money laundering law. Officials in financial law enforcement agencies believe the categorisation of PayPal as a 'reporting entity' will help ensure regulatory compliance from all such big payment platforms. The FIU …

India moving in right direction: ‘Following the money’ is key to counter terrorism
2 years, 1 month ago

India moving in right direction: ‘Following the money’ is key to counter terrorism

Firstpost  

There is no question that ‘following the money’ is essential to counter terrorism. As India hosts the No Money for Terror summit, it’s evident that “following the money” is essential to counter terrorism. India is very focused about the challenges faced by investigation agencies while probing terror financing crimes, the sharing of information among financial intelligence units, and recent trends …

India moots permanent secretariat to fight terror
2 years, 1 month ago

India moots permanent secretariat to fight terror

The Hindu  

India has proposed a permanent secretariat for “No Money for Terror,” a ministerial body, to sustain the continued global focus on countering the financing of terrorism, Union Home Minister Amit Shah said on November 19, 2022. The Minister in his capacity as the chair of NMFT, also reiterated India’s position that all countries will have to agree on one common …

'World remains clear that…': India's response to Pakistan's exit from FATF grey list
2 years, 2 months ago

'World remains clear that…': India's response to Pakistan's exit from FATF grey list

India Today  

Ministry of External Affairs Spokesperson Arindam Bagchi responded to Pakistan’s exit from the Financial Action Task Force grey list after four years of being on the terror funding list. MEA official spokesperson said that he was aware of the latest update related to Pakistan in the context of the Financial Action Task Force plenary in Paris. In the official response …

Money Laundering Offence Attracted By Mere Possession Of Crime Proceeds ; Projection As Untainted Property Not Required : SC Interprets "And" In Sec 3 PMLA As "Or"
2 years, 4 months ago

Money Laundering Offence Attracted By Mere Possession Of Crime Proceeds ; Projection As Untainted Property Not Required : SC Interprets "And" In Sec 3 PMLA As "Or"

Live Law  

By interpreting "and" in Section 3 of the Prevention of Money Laundering Act 2002 as "or", the Supreme Court held that mere possession or concealment of the proceeds of the crime is sufficient for the offence of money laundering and that it need not be projected as an untainted property. "Section 3 - Offence of money laundering - Whosoever directly …

Singapore’s top home ministry adviser Raja Kumar is new president of FATF
2 years, 5 months ago

Singapore’s top home ministry adviser Raja Kumar is new president of FATF

Hindustan Times  

NEW DELHI: T Raja Kumar, who has more than 35 years of leadership and operational experience in Singapore’s home ministry and police force, on Friday began a two-year term as president of the Financial Action Task Force. FATF said T Raja Kumar, who starts as FATF President today, will focus on enhancing effectiveness of global anti-money laundering and counter-terrorist financing …

26/11 Mumbai terror attack handler jailed for 15 years in Pakistan
2 years, 5 months ago

26/11 Mumbai terror attack handler jailed for 15 years in Pakistan

India Today  

An anti-terrorism court in Pakistan awarded a 15-year jail term in a terror financing case to Sajid Mir, an operative of the proscribed terrorist organization Lashkar-e-Taiba and the alleged mastermind behind the 26/11 Mumbai attacks this month. “An anti-terrorism court in Lahore early this month handed down a 15-year jail term to Sajid Majeed Mir, an activist of banned Lashkar-e-Taiba, …

’Committed to fight money laundering, terror financing‘
2 years, 8 months ago

’Committed to fight money laundering, terror financing‘

Live Mint  

Finance minister Nirmala Sitharaman on Friday said India is committed to fighting money laundering and terrorist financing. Acknowledging the Financial Action Task Force’s work in safeguarding the global financial system, Sitharaman said that India is committed to providing the necessary resources and support to the Paris-based intergovernmental organization to combat money laundering, terrorist financing and funding of weapons of mass …

India committed to fighting money laundering, terror financing: Sitharaman
2 years, 8 months ago

India committed to fighting money laundering, terror financing: Sitharaman

Live Mint  

Bengaluru/New Delhi: Finance minister Nirmala Sitharaman on Friday reaffirmed India’s commitment to fighting money laundering and terrorist financing and appreciated the Financial Action Task Force's work in safeguarding the global financial system. “During the meeting, the Finance Minister reaffirmed India’s commitment to fighting Money Laundering, Terrorist Financing and Proliferation Financing and acknowledged and appreciated FATF on their work on Beneficial …

FATF retains Pakistan on its terror funding ‘grey list’
2 years, 9 months ago

FATF retains Pakistan on its terror funding ‘grey list’

The Hindu  

The global money laundering and terrorist financing watchdog FATF has retained Pakistan on its terrorism financing “grey list” and asked Islamabad to address at the earliest the remaining deficiencies in its financial system, according to a media report on Saturday. However, Pakistan’s robust progress on its global commitments to fight financial crimes was appreciated at the concluding session of its …

India victim of cross-border terrorism, some countries offering safe havens to terrorists: India to UN
3 years, 5 months ago

India victim of cross-border terrorism, some countries offering safe havens to terrorists: India to UN

India Today  

India has told the UN that it has been a victim of terrorism, especially from across the border, over the last several decades and that there are countries “clearly guilty” of aiding, supporting terrorist activities and offering safe havens to militants, a thinly-veiled reference to Pakistan. Delighted to co-host with France & UN partners, High-Level event #CTWeek on “Countering Financing …

Pakistan to stay on FATF ‘greylist’ over failure to convict UNSC-designated terror leaders
3 years, 5 months ago

Pakistan to stay on FATF ‘greylist’ over failure to convict UNSC-designated terror leaders

The Hindu  

Pakistan was retained on the greylist, or list of countries under “increased monitoring”, at the Financial Action Task Force once again, as the Paris-based UN watchdog judged it deficient in prosecuting the top leadership of UN Security Council-designated terror groups; the list includes Lashkar-e Toiba, Jaish-e Mohammad, Al Qaeda and the Taliban. “The FATF encourages Pakistan to continue to make …

Jaishankar Slams Pakistan, China in Speech at UN Security Council
3 years, 11 months ago

Jaishankar Slams Pakistan, China in Speech at UN Security Council

The Quint  

“Summon the political will to combat terrorism. All member states must fulfill their obligations enshrined in international counter-terrorism instruments and conventions.” 2. “Enlisting and delisting individuals and entities under the UN sanctions regimes must be done objectively, not for political or religious considerations. “Linkages between terrorism and transnational organised crime must be fully recognized and addressed vigorously.” 7. The forthcoming …

FATF review of India's anti-money laundering & terror financing regime pushed to 2021 due to Covid-19
4 years, 4 months ago

FATF review of India's anti-money laundering & terror financing regime pushed to 2021 due to Covid-19

India Today  

The much-awaited Financial Action Task Force mutual evaluation of India's anti-money laundering regime and legal measures framed to check financial crimes, scheduled for this year, has been postponed till early next year in view of the coronavirus pandemic, officials said. During the visit of FATF evaluators, the finance ministry officer said, India has prepared to present multiple dossiers of the …

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