-PTI     FATF is an inter-governmental body that sets standards and promotes policies to combat money laundering and terrorist financing for countries across the world. In a major boost to measures being taken by India against money laundering and Terror Financing activities, the Financial Action Task Force (FATF) today said the country has substantially addressed the deficiencies in its regulatory framework and has become largely compliant with global standards in this regard. FATF is...

-The Hindu Mumbai: Reserve Bank of India (RBI) Deputy Governor K.C. Chakrabarty, on Monday, refuted money laundering charges levelled against various banks, and said that all exposures by Cobrapost.com were connected to know-your-customer (KYC) norms. "We are seeing how the banks are following up on the KYC norms. There are certain differences in the manner of reporting of KYC norms in each bank...Need to strengthen KYC guidelines," he said. In March this year,...

-PTI Project will help strengthen anti-money laundering steps, combat Terror Financing, says inter-governmental body Paris: India’s Aadhar programme has been praised by the FATF here which said the initiative will not only ensure “financial inclusion” for its teeming population but also tighten anti-money laundering measures in the country. “If successfully implemented, it (Aadhar project) would be the first biometrically verified unique ID implemented on a national scale and would provide the ‘identity...

Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax havens to improve tax transparency and participate in an international regime of information exchange.  All tax havens have committed to OECD standards for tax transparency and are executing Tax Information Exchange...

Do dollars dictate dissent? Are agendas altered as advised? Government statements related to these questions - specifically, the foreign funding of non-government organisations (NGOs) involved in the protests against nuclear power at Kudankulam - generated much discussion.  The uproar is over, and Kudankulam will soon be operational. However, many wider issues remain, and these merit consideration. Among these, two significant ones are the role of NGOs - or, more specifically, civil...