Islamabad: India is regular member of FATF since 2010 and declared hub of money laundering, terrorism sponsoring besides being a security threat to world at large but plainly ignored/ overlooked by FATF and all other international like-bodies/ committees.
According to a research report, 44 Indian banks have been flagged in a series of Suspicious Activity Reports (SARs) filed by US banks to Financial Crimes Enforcement Network (FinCEN) for carrying out suspicious transactions worth more than $1 billion.
FinCEN and yet FATF is reluctant to take any action against India. This is the right time to expose Indian money laundering and terror financing as its 44 banks are identified for suspicious transactions during upcoming FATF plenary meeting started October 11, 2021.
India is a fit case to be blacklisted by Financial Action Task Force (FATF) for its money laundering and terrorism sponsoring.
1t report further revealed that India, under Modi, had become a security threat to the world but was being overlooked by FATF and other global bodies. FATF’s preferential treatment to India will only damage the credibility of the financial body, it added.
The report deplored that the FATF had shown favoritism towards India by continuing to ignore its money laundering and terror financing and had given it a free hand. It said that India was trying to destroy credibility of the global institutions like FATF for fulfilling its narrow political designs.
The report said, the upcoming FATF plenary meeting is the right time to blacklist India for its suspicious transactions, adding that the FATF must take action against India and Modi for being involved in terror financing and money laundering. Web Desk
