The report said India implemented such an anti-money laundering (AML) and combating financing of terror (CFT) system that was effective in many respects.It, however, said “major improvements” were required to strengthen the prosecution in money laundering and terror financing cases.It said improvements in the system were also required to protect the non-profit sector from terror abuse.”India’s main sources of money laundering originate from within, from illegal activities committed within country,” it said, adding the country faced “disparate” range of terror threats, most significantly from ISIL (Islamic State or ISIS) or AQ-linked groups (Al Qaeda) active in and around Jammu and Kashmir.The report analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of India’s AML/CFT system, and provides recommendations on how the system can be strengthened.
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Delhi traders try to cremate mannequin to claim insurance money, arrested in UP
Two of the accused — Kamal Somani and his associate Ashish Khurana, both residents of Jain Colony in…
