Tag: anti-money laundering

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India Tightens Crypto KYC to Curb Money Laundering and Terror Financing

Source: TOI Subject: Government Scheme Context: India has introduced stricter KYC and Anti-Money Laundering (AML) norms for cryptocurrency users by mandating live selfie verification, geo-tagging and bank account validation. About India Tightens Crypto KYC to Curb Money Laundering and Terror Financing: What it is? It is a mandatory digital identity verification framework for users of …

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FATF Expands Asset Recovery Scope Beyond Graft

Source: TOI Context: The Financial Action Task Force (FATF) has issued new global guidance on asset recovery, expanding its scope beyond corruption to cover crimes like fraud, cyber offences, and money laundering. About FATF Expands Asset Recovery Scope Beyond Graft: What it is? A new 340-page FATF guidance outlining a comprehensive framework for identifying, preserving, …

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Anti-money laundering: Sebi releases fresh set of guidelines

Facts for Prelims (FFP)   Source: Live Mint   Context: The Securities Exchange Board of India (SEBI) has issued a set of amendments to strengthen anti-money laundering(AML) standards and combat finance terrorism (CFT). These guidelines are based on rules established under the Prevention of Money Laundering Act of 2002.   The key amendments include: Additional …

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Critically analyse the role of Financial Action Task Force (FATF) in implementing anti-money laundering and counter-terrorist financing (AML/CFT) measures to stop criminals and terrorists from abusing the financial system.

Topic: Security challenges and their management in border areas – linkages of organized crime with terrorism. 6. Critically analyse the role of Financial Action Task Force (FATF) in implementing anti-money laundering and counter-terrorist financing (AML/CFT) measures to stop criminals and terrorists from abusing the financial system. (250 words) Difficulty level: Tough Reference:  The Hindu Why …

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