The publication gives a complete and up to date framework for strengthening international programs of asset restoration towards monetary crimes. India contributed to the event of the revised FATF requirements and steerage by ED, individuals within the know stated.Officers from ED participated within the FATF mission groups chargeable for drafting and contributed to the deliberations within the FATF working teams and plenary periods. The steerage printed by FATF options a number of Indian examples from ED investigations and operations, illustrating the implementation of FATF ideas by India's legislative and enforcement framework.
FATF famous that India has developed probably the most efficient mechanisms amongst member international locations to “establish, connect, and repurpose” belongings derived from financial offences. The publication highlights the Indian system's skill to hold out each conviction-based and non-conviction-based confiscations, together with using expertise and inter-agency collaboration to hurry up investigations.
It has additionally lauded India's legislative framework underneath the Prevention of Cash Laundering Act (PMLA), which permits swift freezing, attachment, and confiscation of prison proceeds even whereas prison trials are ongoing. It additionally appreciated India's coordination amongst key establishments such because the Monetary Intelligence Unit (FIU-IND) and the Central Bureau of Investigation (CBI), terming it a sensible mannequin for different international locations to check.
