The Financial Action Task Force (FATF) urges India to strengthen virtual asset regulation

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2024-09-21 12:03:15

Golden Finance reported that the Financial Action Task Force (FATF) announced on Thursday that, after joint assessments with the Asia Pacific Group (APG) and the Eurasian Group (EAG), India has “technically complied with FATF recommendations and taken significant steps to implement measures to combat illegal financing.” However, areas needing improvement were highlighted, particularly in regulating non-financial sectors and virtual asset providers. India was urged to adopt a risk-based approach to protect non-profit organizations and address prosecution latency in financial crimes.

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