India needs to establish due diligence on domestic politically exposed persons (PEP), tighten checks on transactions involving gems and jewellery, and protect the nonprofit sector from terrorist abuse, said the global antimoney laundering and terror financing body, Financial Action Task Force (FATF), on Thursday.
Releasing India's mutual evaluation report, the FATF said India's technical compliance rating on 40 parameters were either compliant (11) or largely compliant (26) while only on the above three parameters it had been found to be partially compliant.
"India has no low rating (by the FATF) on any parameter in the report... it is either high rating or medium rating," said Department of Revenue Additional Secretary Vivek Agarwal in a select media briefing in New Delhi.
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Denne historien er fra September 20, 2024-utgaven av Business Standard.
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