India Chapter Launch Event
About the eventTo kick-off the India chapter introduction, ACFCS has planned a 2 day online event, in which we will be covering critical topics in the Financial Crimes Compliance domain which will be discussed by leading professionals in a panel format. Day 1 – Thursday December 10, 2020 FATF Review Preparedness Panel Discussion India’s much-awaited Financial Action Task Force (FATF) review has been postponed to 2021. The review was scheduled for this year as a part of the regular review cycle after 10 years. India has prepared multiple dossiers of the actions undertaken by it under the anti-money laundering law and several criminal tax evasion probes. Some of the actions undertaken by the Indian government include the anti-black money Act of 2015, implementation of GST in 2017, enactment of the Fugitive Economic Offenders Act in 2018, Demonetisation of two big currency notes in 2016 and amendments brought in the Prevention of Money Laundering Act (PMLA) over the years.
- How Banks are taking efforts to combat money laundering
- Actions & measures taken by the regulatory bodies.
- Progress from last review, implementations, and alignments
- The approach taken by regulators, agencies, and banks in ensuring FATF preparedness
- Regulatory actions, penalties and orders of critical importance
- What has changed since the last review – expectations, planning & on-ground planning