look news india
The global anti-money laundering and terrorist financing task force FATF (Financial Action Task Force) today released an assessment report on India.
The report said India's system is effective but major reforms are needed to strengthen prosecution in these cases.
The 368-page report has been released after the June meeting. This report has been released by the Paris-headquartered organization FATF. The last report in this regard was released in 2010.
This report comes after the visit of FATF experts to India in November last year. In this report, India has been placed in the follow-up category. This category is shared by only four other G20 countries.
India's next review will be done in 2031. The report says that India has implemented anti-money laundering (AML) and combating financing of terrorism (CFT) systems. Which is effective in many ways.
However, the report said major reforms are needed to strengthen prosecutions in money laundering and terrorist financing cases.
