Indore (Madhya Pradesh): After five days of brainstorming, the Eurasian Group member nations are going to put their stamp on the report of mutual evaluation of India’s anti-money laundering and terrorist financing measures on Friday, the final day of the 41st Plenary and Working Group Meeting of EAG on Combating Money Laundering and Financing of Terrorism. The EAG nations have already hailed India’s anti-money laundering and terror financing measures, and giving approval to the largest democracy’s report is expected to be a mere formality. The report was tabled and discussed in the working group of EAG and plenary session.
India’s mutual evaluation was conducted by member countries of Financial Action Task Force (FATF), Asia Pacific Group on Money Laundering (APG) and EAG. The report was adopted in June 2024 during the FATF plenary held in Singapore and in September 2024 during APG plenary held in Abu Dhabi. EAG will adopt the mutual evaluation report in its plenary.
Following the assessment, India has been placed in ‘regular follow-up’, which is the highest rating category by FATF. UK, France and Italy are among the only G-20 countries that have been placed in this category apart from India. The report highlights that India has made significant steps in financial inclusion, more than doubling the proportion of the population with bank accounts, encouraging greater reliance on digital payment systems.
These efforts have supported financial transparency, which in t.
