This article analyzes India’s efforts in combatting money laundering and terror financing, focusing on the Enforcement Directorate (ED) and its operational practices. It examines the ED’s reliance on various sources of information, highlights the challenges in tracking financial transactions, and discusses the need for capacity training for law enforcement agencies to effectively combat this complex issue.
India has been recognized by the Financial Action Task Force (FATF) for its efforts in combatting money laundering and terrorism financing, earning a ‘regular follow-up’ designation. While lauded for significant progress, the country still faces challenges in concluding money laundering cases and improving the implementation of cash restrictions in the precious metals and stones sector.
The Financial Action Task Force on Money Laundering (FATF) has released a comprehensive evaluation report on India’s anti-money laundering and counter-terrorism financing systems, highlighting areas of strength while also recommending significant improvements for stronger prosecution and protection of the non-profit sector.
Turkey has been removed from the Financial Action Task Force’s (FATF) ‘grey list’ after implementing significant reforms to strengthen its anti-money laundering and counter-terrorism financing regime. This achievement marks a significant victory for Finance Minister Mehmet Şimşek, who has been leading a major economic overhaul since his appointment.
