Apr 22:Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the FATF Ministerial Meeting in Washington D.C. on 21st April 2022, conducted alongside the 2022 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF).
This meeting focussed on Ministers’ providing strategic direction, by endorsing the FATF’s strategic priorities for the years 2022-24 and reinforcing Ministers’ commitment to ensuring suitable funding for the delivery of the strategic priorities which are Strengthening the FATF Global Network, FATF systems of Mutual Evaluations, Enhancing International Beneficial Ownership Transparency, Increasing Capabilities to more effectively recover Criminal assets, Leveraging Digital Transformation, Ensuring Sustainable Funding for FATF Strategic priorities.
During the meeting, the Finance Minister reaffirmed India’s commitment to fighting Money Laundering, Terrorist Financing, and Proliferation Financing and acknowledged and appreciated FATF for their work on Beneficial Ownership Transparency, Asset Recovery, and the role of the FATF Global network in safeguarding the global financial system.
Smt. Sitharaman extended support to the strategic priorities and said that India is committed to providing the necessary resources and support to FATF in its endeavor as a global alliance against money laundering, terrorist financing, and financing proliferation of weapons of mass destruction.
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