')After nearly a five-year wait, India has finally become a full-fledged member of the Financial Action Task Force (FATF), an inter-governmental body responsible for setting global standards on anti-money laundering (AML) and combating financing of terrorism (CFT).
With its induction as the 34th member-country of the global body that chalks out policies to counter financial frauds, India will have access to information on suspicious financial transactions in Switzerland, China, the U.S. and the U.K. The development marks a significant step towards tracing the source of terror financing and black money stashed away in tax havens abroad.
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Article by Nagarajan M
has written 203 articles .
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