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Mumbai to Host FATF Private Sector Collaborative Forum 2025

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Mumbai to Host FATF Private Sector Collaborative Forum 2025

AspectDetails
EventFATF Private Sector Collaborative Forum (PSCF) 2025
Date25 to 27 March 2025
LocationMumbai, India
OrganizersReserve Bank of India (RBI) and Department of Revenue, Ministry of Finance
PurposeStrengthen Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) efforts
ParticipantsFATF member countries, financial institutions, DNFBPs, VASPs, international organizations, academia
India's Role- Member of FATF Steering Group <br> - Co-chair of Risks, Trends, and Methodologies Working Group <br> - Hosted Eurasian Group (EAG) Plenary in Indore (November 2024) <br> - Achieved 'regular follow-up' status in FATF Mutual Evaluation Report (June 2024)
FATF- Established in 1989 in Paris <br> - Initially focused on money laundering <br> - Expanded mandate post-9/11 to include terrorist financing <br> - Added countering WMD proliferation financing in 2012
Money Laundering- Placement: Introducing illicit funds into the financial system <br> - Layering: Obscuring the origin of funds <br> - Integration: Reintroducing laundered funds as legitimate
Terror Financing- Estimated $2-4 trillion laundered annually <br> - Concealed through charities and alternative remittance systems <br> - Cryptocurrency poses regulatory challenges

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