FATF lauds ED progress in money laundering cases

THE FINANCIAL ACTION Task Force (FATF), the global terror financing watchdog, has extensively cited India’s Enforcement Directorate (ED) in its publication titled ‘Asset Recovery Guidance Best Practices’ for efficiently tackling money laundering and recovering assets from economic offenders.

- FE BUREAU

The Paris-based 40-member body sets standards against illicit funds from drug trafficking, armstrade, cyber fraud, and other crimes. The FATF’s guidance, released on Tuesday, provides an updated framework for strengthening the global system of asset recovery against financial crimes. It cited multiple Indian case studies of tracing, seizing, and restoring proceeds of crime across investment frauds, property scams, banking, and offshore laundering.