.jpeg)
FATF is impressed with the prevention of money laundering in India
The Finance Ministry has termed the praise received from FATF as an encouragement for strengthening the Indian economy, while the Ministry of External Affairs has termed it a success and a positive step. To avoid this ban, Pakistan had to take action against the heads of many terrorist organizations like Jaish-e-Mohammed chief Masood Azhar and Lashkar-e-Taiba chief Hafiz Saeed.
India has a very solid track record of preventing illegal money transactions in the country, seizing unlawful revenues, and preventing terrorist organizations from accessing financial resources. The FATF is so pleased with this that it has placed India in the group of four G-20 countries that will now be required to submit their report on those themes three years later, in October 2027.
The Finance Ministry described the FATF's commendation as an incentive to boost the Indian economy, while the Foreign Ministry described it as a success and a constructive step forward. FATF, or Financial Action Task Force, is an organization of 40 countries that monitors unlawful cash transactions on a global scale and reviews the steps taken to stop it.
According to this, FATF can also blacklist countries that do not take steps, due to which that country may face problems in getting external loans or doing business. Two years ago, FATF had threatened to put Pakistan in the banned list. To avoid this, the Pakistani government had to take several steps to stop the financial sources of terrorist organizations.
