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India’s AML Regime Hampered by Lack of Convictions: FATF
By Colby Adams
printThe Indian government has convicted too few money launderers and terrorist financiers, an intergovernmental organization said in a report that followed India's accession to the group. The Paris-based Financial Action Task Force (FATF) deemed the South Asian democracy at least partially compliant with 44 of its 49 recommendations, in a 22-page summary of a mutual evaluation published by the organization on Friday. FATF also released generally favorable summaries of mutual evaluations of Saudi Arabia and Brazil. Despite implementing modern anti-money laundering (AML) legislation since October 2001, India was prosecuting only six individuals for money laundering during FATF's evaluation period, between...
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