CandleFocus FATF Urges India to Strengthen Virtual Asset Regulation
2024-09-21
Author: Content Editor
India has received praise from the Financial Action Task Force (FATF) for achieving a high level of technical compliance with its standards on combating illicit finance, money laundering, and terrorist financing. However, the FATF also highlighted areas that still require improvement, particularly in regulating the non-financial sector and virtual asset providers. India was urged to adopt a risk-based approach to safeguard non-profit organizations and to address delays in financial crime prosecutions. Overall, the FATF acknowledged India's progress but called for more advancements in specific sectors.
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