India; Report on Observance of Standards and Codesâ€”FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

India faces a range of money laundering and terrorist financing risks. India continues to be a target for terrorist groups and has been the victim of numerous attacks. Based on a threat assessment, it was found that India's major sources for terrorist financing (FT) were funds/resources from organizations outside India, counterfeiting of currency, and criminal activities. Key recommendations made to India included the need to address the technical shortcomings in the criminalization of both money laundering and terrorist financing and domestic framework of confiscation and provisional measures.

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Year of publication:	2011-01-24
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Combating the financing of terrorism \| Financial institutions \| Financial sector \| International cooperation \| Nonbank financial sector \| Reports on the Observance of Standards and Codes \| money laundering \| terrorist \| terrorist financing \| beneficial ownership \| law enforcement \| terrorism \| terrorist acts \| competent authorities \| predicate offences \| shell banks \| dual criminality \| beneficial owners \| predicate offence \| terrorist organisations \| customer identification \| supervisory regime \| financing of terrorism \| suspicious transactions \| legal assistance \| criminal liability \| business relationships \| suspicious transaction \| suspicious transaction reporting \| foreign branches \| due diligence \| risk management \| identification procedures \| criminal proceeds \| foreign counterparts \| customer identification records \| transaction reporting \| international standards \| penal code \| internal controls \| terrorist assets \| dissuasive sanctions \| illegal activities \| nuclear material \| financial intelligence unit \| customer identification data \| mutual evaluation \| confiscation of property \| control information \| criminal activities \| wire transfer \| reporting requirements \| supervisory authorities \| transaction reports \| customer identification procedures \| law enforcement agencies \| law enforcement authorities \| law enforcement information \| lawful purpose \| terrorist activities \| professional secrecy \| domestic laws \| enforcement authorities \| drug trafficking \| secrecy provisions \| cash transactions \| audit function \| risk management procedures \| identification data \| legal arrangements \| terrorist attacks \| terrorist financing investigations \| internet casinos \| currency transaction reports \| financial secrecy \| tax matters \| information exchange \| unusual transactions \| terrorist groups \| value transfer \| laundered property \| predicate offence investigations \| secrecy law \| legal entities \| investigative techniques \| regulatory authorities \| licensing process \| criminal matters \| assessment methodology \| negotiable instruments \| suspicious transaction reports \| settlement systems \| adequate safeguards \| financial transactions \| customer acceptance \| terrorist act \| trust service providers \| risk customers \| precious metals \| money laundering methods \| domestic terrorism \| undercover operations \| secrecy laws \| control structure \| investigative powers \| narcotic drugs \| financing abuse \| pooled accounts \| civil liability \| national security \| financial records \| tax authorities \| information collection \| financial sector supervisors

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 11/26 2 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011244473