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Financial Action Task Force (FATF) released its Mutual Evaluation Report on India

Kumari Sonali

Financial Action Task Force (FATF) released its Mutual Evaluation Report on India:

India was found partially compliant in three areas.

  • Non-Profit Organisations (NPOs): NPOs registered as charitable organizations and enjoying tax exemptions could be vulnerable to terror funding.
  • The system requires better measures to address risks associated with these organisations.
    Politically Exposed Persons (PEPs): Ambiguities exist regarding the source of wealth, source of funds, and beneficial
  • ownership for domestic PEPs. The government needs to address these ambiguities.
  • Designated Non-Financial Businesses and Professions (DNFBPs): Gaps exist in the regulation and supervision of DNFBPs, especially regarding money laundering and terror financing.

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