NEW DELHI
\nA global anti-money laundering watchdog said on Friday that India had largely complied with its rules, although it needs to strengthen supervision of its non-financial sectors to prevent financial crime.
\nThe Financial Action Task Force (FATF) said India had reached a high level of technical compliance, as the country was effective in curbing money laundering and terrorist financing.
\nHowever, improvements were needed to strengthen the supervision and implementation of preventive measures in some of the country\u2019s non-financial sectors, the Paris-based body said in a statement.
\nThe FATF 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. India became a member of the FATF in 2010.
\nThe Indian government said the FATF\u2019s Mutual Evaluation Report of India, which was adopted at the FATF plenary held in Singapore, places India in the \u201cregular follow-up\u201d category, which demonstrates the \u201cstability and integrity\u201d of the country\u2019s financial system.
\nA regular follow-up means that India needs to report to the FATF only in 2027. \u201cGood ratings will lead to better access to global financial markets and institutions and increase investor confidence,\u201d the Indian government said in a statement.
\nThe FATF will publish its final report on India after a quality and consistency review, the watchdog said.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI A global anti-money laundering watchdog said on Friday that India had largely complied with its rules, although it needs to strengthen supervision of its non-financial sectors to prevent financial crime. The Financial Action Task Force (FATF) said India had reached a high level of technical compliance, as the country was effective in curbing […]<\/p>\n","protected":false},"author":2,"featured_media":415275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-415248","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n