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India Against Terror Financing; FM

New Delhi: Union Minister for Finance & Corporate Affairs Nirmala Sitharaman has assured the International Community about India’s commitment to fight money laundering, terror financing and other issues.

She addressed the FATF Ministerial Meeting in Washington D.C. on 21 April 2022, conducted along-side the 2022 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF).

This meeting focused on Ministers’ providing strategic direction, by endorsing the FATF’s strategic priorities for the years 2022-24.

In the meeting India reinforced commitment to ensure suitable funding for the delivery of the strategic priorities which are Strengthening the FATF Global Network, FATF systems of Mutual Evaluations, Enhancing International Beneficial Ownership Transparency, Increasing Capabilities to more effectively recover Criminal assets, Leveraging Digital Transformation, Ensuring Sustainable Funding for FATF Strategic priorities.

During the Meeting, the Finance Minister reaffirmed India’s commitment to fighting Money Laundering, Terrorist Financing and Proliferation Financing and acknowledged and appreciated FATF on their work on Beneficial Ownership Transparency, Asset Recovery, and the role of FATF Global network in safeguarding the global financial system.

Ms.Sitharaman extended support to the strategic priorities and said that India is committed to provide the necessary resources and support to FATF in its endeavor as a global alliance against money laundering, terrorist financing and financing of proliferation of weapons of mass destruction

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