FATF Approved the Revised Recommendations for Combating Money Laundering and Financing of Terrorism

• The Plenary Meeting of Financial Action Task Force (FATF) being held in Paris approved the revised recommendations for combating money laundering and financing of terrorism. The plenary also discussed the fourth follow-up report on India’s progress with reference to the Action Plan that it had committed to in June 2010. 
• The plenary appreciated the actions taken by India and the commitment of India to the international Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) standards.
• The FATF is an inter-governmental body that sets international standards for combating money laundering and the financing of terrorism. India became a member of FATF in June 2010.