Fatf

FATF hails India's asset recovery model, cites ED as global benchmark

FATF highlights India's Enforcement Directorate for its effective coordination, citing ED's cases as examples of global best practice in tracing and seizing illicit assets

'Greylist exit no immunity': FATF's warning to Pakistan on terror finance

FATF warns Pakistan that leaving the greylist in 2022 does not stop terror funding risks; country must continue measures to prevent money laundering and terror finance

South Africa, Nigeria set to exit FATF's 'grey list' in October plenary

The two nations were put under heightened scrutiny by the Financial Action Task Force in February 2023 for shortcomings in tackling illicit financial flows

How regulation is shaping a sustainable crypto assets sector in India

The reality is that every country's response will (and should) differ depending on the country context and risks arising from crypto assets

No Modi-Trump call took place, Jaishankar clarifies on Operation Sindoor

EAM S Jaishankar defends Operation Sindoor and highlights India's diplomatic wins against Pakistan-backed terror groups and China's influence in Parliament

FATF urges increased due diligence for Myanmar amid high-risk status

FATF has recommended enhanced due diligence measures for risks arising from Myanmar, maintaining its status as a high-risk jurisdiction. The RBI has issued the advisory based on FATF's guidelines

E-comm, online payment platforms being abused for terror financing: FATF

Global terror financing watchdog FATF on Tuesday cited the February 2019 Pulwama terror attack, which killed 40 CRPF personnel, and the 2022 Gorakhnath Temple incident to say that e-commerce platforms and online payment services are being misused for terror financing. In its 'Comprehensive Update on Terrorist Financing Risks', the FATF also flagged 'state sponsorship of terrorism' and said a variety of publicly available sources of information and delegations' inputs to this report indicate that "certain terrorist organisations have been and continue to receive financial and other forms of support from several national governments". "Delegations reported on this trend by referring to the use of state sponsorship for TF (terror financing) either as fundraising technique or as part of the financial management strategy of the certain organisations engaging in terrorist acts. Several forms of support have been reported, including direct financial support, logistical and material support,

FATF links Pak missile tech to dual-use cargo seized by India in 2020

A dual-use equipment seized by India from a Pakistan-bound merchant vessel in 2020 is linked to Islamabad's National Development Complex that is involved in the country's missile development programme, a new report by the Financial Action Task Force (FATF) has said. India's seizure of the dual-use equipment used in developing missiles found mention in the report by the multilateral financial watchdog that highlighted vulnerabilities in the global financial system. The report listed the case under a section on the misuse of the maritime and shipping sectors including to transport a range of commodities, including dual-use equipment. "In 2020, Indian custom authorities seized an Asian-flagged ship bound for Pakistan. During an investigation, Indian authorities confirmed that documents mis-declared the shipment's dual-use items," the FATF report said. "Indian investigators certified the items for shipment to be 'Autoclaves', which are used for sensitive high energy materials and for .

FATF condemns Pahalgam attack, to release terror financing report soon

This is the third time FATF has explicitly condemned a terrorist incident, following earlier statements in 2015 and 2019

International watchdog FATF condemns Pahalgam attack, vows tighter scrutiny

India has reportedly intensified its diplomatic push to highlight the resurgence of cross-border terrorism and the funding channels that support it on the global stage

India opposes ADB's $800 million aid to Pakistan, flags misuse concerns

India has raised strong objections to ADB's financial aid to Pakistan, citing concerns over cross-border terrorism, high defence spend, weak reforms, and governance risks

India to push FATF to put Pakistan back in grey list at next review

India will present a dossier to FATF citing Pakistan's failure to curb terror financing and misuse of funds, pressing for its reclassification under the grey list

India to make strong case with FATF to put Pakistan back in "grey list"

India will make a strong case with FATF to revert Pakistan to its "grey list" for failure to comply with anti-money laundering and terror financing rules, a government source said. "We will be taking it up (with the FATF)," the source said when asked whether India will make a case with Financial Action Task Force (FATF) to place Pakistan in the grey list. Tensions between India and Pakistan have heightened following the terror attack in Pahalgam on April 22, which killed 26 civilians. India feels that Pakistan has failed to act on terror emanating from its territory and has been diverting funds from multilateral agencies to buy arms and ammunition. Countries which fail to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing, and are under increased monitoring, are placed in the grey list of FATF. When FATF places a jurisdiction under increased monitoring, it means the country has committed to resolving swiftl

Nepal's inclusion in FATF grey list sparks Oppn's call for Oli resignation

Nepal has two years to address these deficiencies and remove itself from the grey list; otherwise, it will face more international transaction hurdles and sanctions

FATF invites Indian online gaming firms to discuss laundering risks

Companies invited for tomorrow's meet include Dream11, Baazi Games, Zupee, WinZO, and others

Iran seeks help from India to shed FATF's blacklisted country tag: Official

Iran has sought technical help from India through the Eurasian Group (EAG) so that it can be excluded from the Financial Action Task Force's (FATF) blacklist by compliance of norms, a senior central government official said here on Tuesday. India has assured support to Iran on sharing technical knowledge and expert advice through the EAG, he said. Earlier this year, Iran retained its place on the FATF's blacklist over international banking and related rules. Talking to reporters in Indore, Vivek Aggarwal, Additional Secretary of Department of Revenue, Ministry of Finance, said, "At present, Iran is on the blacklist of the FATF." Agarwal is attending the 41st plenary meeting of the EAG in Indore as the Head of the Indian Delegation (HOD). The five-day meeting of the EAG, involving nine member countries including India, began on Monday. "Since Iran has joined the EAG as an observer, it has sought technical cooperation from the EAG regarding compliance with FATF standards," he said.

FATF changes grey listing criteria to focus on nations posing greater risk

The global anti-money laundering watchdog noted that the impact of illicit financial flows is felt most strongly by the least developed nations

India seeks FATF oversight for online gaming to curb money laundering risks

If the FATF includes the sector within the AML/CFT framework, gaming platforms would need to adhere to KYC norms and report suspicious transactions, including identifying their beneficial owners

India should protect non-profit sector from terrorist financing: Big takeaways from FATF report

The FATF, a global organization, recently released a report, praising India for having improved its systems to prevent many illegal financial activities.

India's gems, jewellery sector vulnerable to money laundering: FATF

The ease with which the trade of precious metals and stones can be used to move "large amounts" of funds without leaving an ownership trail shows this sector in India is vulnerable to be used as a tool for money laundering and terrorist financing, the Financial Action Task Force (FATF) has said. The Paris-headquartered global body said in its mutual evaluation report for India released on Thursday that the money laundering (ML) risks associated with the "smuggling and dealing" in precious metals and stones should be "further developed" given the size of this sector in the country. The report said there were approximately 1,75,000 DPMS (dealers of precious metals and stones) in the country but its apex body-- Gems and Jewellery Export Promotion Council (GJEPC) only had 9,500 members. Certificate of being a GJEPC member along with tax registration is mandatory for undertaking import or export of gems trade in India. Currently, there are "shortcomings" in risk understanding, particula