G-20 leaders, including PM Narendra Modi, have reasserted their complete support for Financial Action Task Force and acknowledge the effective implementation of the measures put in place to combat money laundering and terror financing.
“We reaffirm our full support for the Financial Action Task Force (FATF) and the Global Network and recognise that effective implementation of Anti-Money Laundering/ Countering the Financing of Terrorism and Proliferation (AML/CFT/CPF) measures is essential for building confidence in financial markets, ensuring a sustainable recovery and protecting the integrity of the international financial system,” the declaration from G-20 stated.
“We reaffirm the commitments made by Finance Ministers and Central Bank Governors aimed at sustaining and strengthening the work of the FATF-style Regional Bodies,” the declaration added.
FATF is an inter-governmental body founded in 1989 to combat money laundering, terrorist financing, and other related threats to the integrity of the international finance system.
