FATF has released India's mutual evaluation report on combating terror financing and anti-money-laundering regime

Financial Action Task Force (FATF) has released India's mutual evaluation report on combating terror financing and anti-money-laundering regime.

India has implemented anti-money-laundering and combating terror financing system that is effective in many respects, the FATF report said.

It said major improvements were needed to strengthen prosecution in money-laundering, terror financing cases, adding that improvements were required to protect non-profit sector from the terror abuse.

India's main sources of money-laundering originate from within, from illegal activities committed within the country, it said, adding that India faces disparate range of terror threats, most significantly from ISIL or AQ-linked groups active in and around J-K.

Courtesy: The Tribune India :19th Sep , 2024