Page 2 - Latest Updates on FATF
India should establish clear obligations for domestic PEPs: FATF
Global body says non-profit sector requires protection from terror
 "India should establish clear obligations for domestic PEPs: FATF")
ED gets max tip offs for money laundering from media, social sites: FATF
A team of FATF experts drawn from agencies belonging to Russia, UAE, USA, Brazil, United Kingdom, South Africa and Japan conducted the 'on-site' review as they were in India between Nov 6-24, 2023
 "ED gets max tip offs for money laundering from media, social sites: FATF")
FATF praises India's PMLA, terror financing; asks to improve prosecution
The report said India implemented such an anti-money laundering (AML) and combating financing of terror (CFT) system that was effective in many respects
 "FATF praises India's PMLA, terror financing; asks to improve prosecution")
India pitches for more info sharing on cross-border payments at FATF
At present, under the Travel Rules of FATF, data relating to the name of the sender, recipient, and the country of origin is recorded in any cross-border financial transactions
 "India pitches for more info sharing on cross-border payments at FATF")
Govt pitches for more disclosures on cross-border payments with FATF
Currently, the Travel Rules of Financial Action Task Force under which data relating to name of sender and recipient and the country of origin is recorded in any cross-border financial transactions
 "Govt pitches for more disclosures on cross-border payments with FATF")
Crime watchdog FATF to release mutual evaluation report of India on Sep 19
Financial Action Task Force had in June adopted the mutual evaluation report on India and placed the country in the "regular follow-up" category -- the highest rating given by the global watchdog
Decoded: Buna-Raast connectivity project between Pakistan-Arab world
Raast is Pakistan's first instant payment system, which operates similarly to India's flagship project: Unified Payments Interface (UPI)
 "Decoded: Buna-Raast connectivity project between Pakistan-Arab world")
FATF calls on India to boost scrutiny of politicians' bank accounts
The recommendation is part of a FATF review of India's anti-money laundering systems that began in 2023
Singapore gets tough on casinos in new measures to check terrorism funding
The new threshold for due diligence checks was among the measures laid out in Singapore's updated National Strategy for Countering the Financing of Terrorism
 "Singapore gets tough on casinos in new measures to check terrorism funding")
High level of technical compliance, but follow-up needed: FATF on India
Finmin says it demonstrates the overall stability and integrity of the financial system
 "High level of technical compliance, but follow-up needed: FATF on India")
'India Inc can cut paperwork to raise overseas funds with good FATF rating'
The global crime watchdog, FATF on Friday adopted mutual evaluation report on India and placed the country in "regular follow-up" category
 "'India Inc can cut paperwork to raise overseas funds with good FATF rating'")
UAE poised to exit global watchdog FATF's 'grey list' after reform push
The UAE is expected to come off the list on Feb. 23, which is the final day of the FATF plenary in Paris, the people said. No final decisions have been made
 "UAE poised to exit global watchdog FATF's 'grey list' after reform push")
RBI gives clarity to 'politically exposed persons' term to meet FATF norms
They are individuals entrusted with prominent public functions by a foreign country, including the heads of states or governments
 "RBI gives clarity to 'politically exposed persons' term to meet FATF norms")
FATF removes offshore tax haven Cayman Islands from its 'grey list'
In its review published on October 27, FATF has added Bulgaria to the grey list
 "FATF removes offshore tax haven Cayman Islands from its 'grey list'")
Updating the tax haven debate
In a comprehensive analysis of black money, R Vaidyanathan's book explores the intricacies of its generation, the impact of tax havens, and the role of global initiatives
 "Updating the tax haven debate")
Is India misusing laws to crack down on NGOs, think tanks? FATF to probe
A team from the FATF is expected to visit India in November and meet representatives of non-profit organisations, including international ones, to get a first-hand understanding of the situation
 "Is India misusing laws to crack down on NGOs, think tanks? FATF to probe")
Centre allays concerns of opposition-ruled states over ED-GSTN info sharing
Revenue Secretary Sanjay Malhotra on Tuesday allayed concerns of several opposition ruled states on the changes made in the money laundering law stating that the amendments were required
 "Centre allays concerns of opposition-ruled states over ED-GSTN info sharing")
Pak defiant, allows fundraising to promote terror, facilitates infiltration
Pakistan's removal from the Financial Action Task Force's (FATF) Grey List in October 2022 came with the assurance that it would fall in line and cease support for terrorism
 "Pak defiant, allows fundraising to promote terror, facilitates infiltration")
Indian regulators step up scrutiny ahead of FATF review in Nov: Report
The Financial Action Task Force, an inter-governmental organisation to combat money laundering, is due to conduct an onsite review of India's regulations and supervision in November
 "Indian regulators step up scrutiny ahead of FATF review in Nov: Report")
Govt plans unique code to identify entities involved in financial offences
The Central Economic Intelligence Bureau under the finance ministry has created a repository of about 250,000 such offenders
 "Govt plans unique code to identify entities involved in financial offences")
