News:- About FATF :- Formed in 1989 , by the initiative of G-7. When it was formed in 1989 its main task was to fight money laundering, later in 2001 curbing Terror Financing was also included in its tasks.

Financial Action Task Force (FATF) is an inter-governmental body, responsible for setting global standards on anti-money laundering (AML) and combating the financing of terrorism (CFT). India became Observer at FATF in the year 2006. Since then, India has been working towards full-fledged Membership of FATF.

FATF Plenary adopted the Mutual Evaluation Report on India on 24th June 2010 and on 25th June 2010 admitted India as 34th Country Member of FATF.

FATF membership is very important for India in its quest to become a major player in the International finance.

It will help India to build the capacity to fight terrorism and trace terrorist money and to successfully investigate and prosecute money laundering and terrorist financing offences.

India will benefit in securing a more transparent and stable financial system by ensuring that financial institutions are not vulnerable to infiltration or abuse by organized crime groups.

The FATF process will also help us in co-ordination of AML/CFT efforts at the international level.

The Financial Action Task Force (FATF) had deferred its once-a-decade
evaluation of India’s anti-money laundering regime scheduled for
this year, citing the COVID-19 pandemic, and indicated that the onsite review to be conducted by global experts may now take place
in early 2021.