%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(61).png "6th & Final FATF Plenary held in Singapore; FATF Adopts Mutual Evaluation Report of India")
- Here's a summary:
- Positive Outcome for India: The report placed India in the "regular follow-up" category, a distinction shared by only a few other G20 nations. This signifies a significant achievement in India's fight against money laundering and terrorist financing.
- FATF's Recognition: The report acknowledged India's efforts in various areas, including:
- Mitigating risks of money laundering and terrorist financing
- Transitioning towards a digital economy
- Implementing the JAM trinity (Jan Dhan, Aadhaar, Mobile)
- Areas for Improvement: While commending India's progress, FATF also highlighted the need to address delays in prosecutions related to money laundering and terrorist financing.
- Overall, this adoption of the report is a positive step for India, demonstrating its commitment to international standards in combating financial crimes.
- The Financial Action Task Force (FATF) removed Turkiye from its “gray list” of countries that require special monitoring. This decision is a major vote of confidence for the country’s economic turnaround efforts.
Question:
1 What was the outcome of FATF's adoption of India's Mutual Evaluation Report in June 2024?
- A) Placed India on the "high-risk" category
- B) Placed India in the "regular follow-up" category
- C) Issued a warning to India for financial irregularities
- D) Excluded India from further evaluation
