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Union Finance Minister Nirmala Sitharaman, in an International Monetary Fund seminar, said that the biggest risk of cryptocurrencies is money laundering and terror financing
A Public Interest Litigation (PIL) filed in the Delhi High Court on Monday sought directions to ensure that Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), and Instant Money Payment System (IMPS) shall not be used for depositing foreign money in Indian Banks, claiming it will provide finance to terrorists and other anti-national organisations. �� PIL Filed in Delhi High Court Seeks Direction Against Use of RTGS, NEFT, IMPS For Foreign Money Deposits in Indian Banks.
The FATF currently has 39 members including two regional organisations the European Commission and Gulf Cooperation Council India is a member of the FATF consultations and its Asia Pacific Group
The finance minister said FATF has no merit to retain the country’s status as it has made significant progress to meet its tough conditions
The global money laundering and terrorist financing watchdog FATF has retained Pakistan on its terrorism financing “grey list” and asked Islamabad to address at the earliest the remaining deficiencies in its financial system, according to a media report on Saturday. Pakistan has been on the grey list of the Paris-based Financial Action Task Force (FATF) since June 2018 for