The global anti-money laundering and terror financing body, the FATF (Financial Action Task Force), on Thursday (Sep 19) launched its much-awaited mutual evaluation report on India, saying the country's systems were "effective" but "major improvements" were required to strengthen prosecution in these cases.

The report said that the country faced "disparate" range of terror threats, most significantly from ISIL (Islamic State or ISIS) or AQ-linked groups (Al Qaeda) active in and around Jammu and Kashmir.

The 368-page report was released after the assessment was adopted by the Paris-headquartered body at its June plenary meeting. The last such review of India's combating of money laundering and terror financing regime was published in 2010.

The report, which comes after an on-site visit of FATF experts to India last November, has placed the country in the "regular follow-up" category, a distinction shared by only four other G20 countries. India will undergo its next evaluation in 2031. 
 
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The report said India implemented such an anti-money laundering (AML) and combating financing of terror (CFT) system that was effective in many respects. It, however, said "major improvements" were required to strengthen the prosecution in money laundering and terror financing cases.

It said improvements in the system were also required to protect the non-profit sector from terror abuse.

"India's main sources of money laundering originate from within, from illegal activities committed within country," it said.

<a href="https://www.wionews.com/india-news/fatf-recognises-indias-efforts-to-combat-money-laundering-terrorist-financing-736144">Also read |&nbsp;FATF recognises India's efforts to combat money laundering, terrorist financing</a>

The report analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of India's AML/CFT system, and provides recommendations on how the system can be strengthened.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

The global anti-money laundering and terror financing body, the FATF (Financial Action Task Force), on Thursday (Sep 19) launched its much-awaited mutual evaluation report on India, saying the country's systems were "effective" but "major improvements" were required to strengthen prosecution in these cases.

The global anti-money laundering and terror financing body, the FATF (Financial Action Task Force), on Thursday (Sep 19) launched its much-awaited mutual evaluation report on India, saying the country's systems were "effective" but "major improvements" were required to strengthen prosecution in these cases. The report said that the country faced "disparate" range of terror threats, most significantly from ISIL (Islamic State or ISIS) or AQ-linked groups (Al Qaeda) active in and around Jammu and Kashmir. The 368-page report was released after the assessment was adopted by the Paris-headquartered body at its June plenary meeting. The last such review of India's combating of money laundering and terror financing regime was published in 2010. The report, which comes after an on-site visit of FATF experts to India last November, has placed the country in the "regular follow-up" category, a distinction shared by only four other G20 countries. India will undergo its next evaluation in 2031. Watch | J&K: India alarmed by China-made handsets used by Pakistani terrorists × The report said India implemented such an anti-money laundering (AML) and combating financing of terror (CFT) system that was effective in many respects. It, however, said "major improvements" were required to strengthen the prosecution in money laundering and terror financing cases. It said improvements in the system were also required to protect the non-profit sector from terror abuse. "India's main sources of money laundering originate from within, from illegal activities committed within country," it said. Also read | FATF recognises India's efforts to combat money laundering, terrorist financing The report analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of India's AML/CFT system, and provides recommendations on how the system can be strengthened. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Islamic State, Al Qaeda biggest terrorism threat in India's Jammu and Kashmir: FATF

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on 20 individuals and 29 companies for "facilitating" the Islamic State of Iraq and Syria (ISIS) and Al-Qaeda&nbsp;in the Maldives.

As per the news agency PTI, among those sanctioned are 18 ISIS and ISIS-Khorasan (ISIS-K) facilitators and two al-Qaeda operatives.

<h2>Depriving unwanted elements of funding</h2>

In a statement released on Monday, State Department Spokesperson Matthew Miller said that the aim of these designations is to deter and disrupt financial and other forms of support for terrorist activities within the Maldives.

"The United States is steadfast in its commitment to counter the threats posed by these terrorist support networks, both locally and internationally, and to ensure they are deprived of funding and resources for carrying out attacks," said Miller as reported by PTI.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/exclusive-taliban-carrying-out-musics-genocide-in-afghanistan-says-afghan-music-saviour-ahmad-sarmast-621378">Exclusive: Taliban carrying out music's 'genocide' in Afghanistan, says Afghan music saviour Ahmad Sarmast</a>

"Treasury's actions today against ISIS and Al-Qaeda&nbsp;operatives and facilitators continue our efforts to help prevent and disrupt financial and other support for terrorist attacks globally," said Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence.

"The United States is committed to denying funding and resources to these terrorist support networks and countering the threats they pose both locally and internationally," he added.

<h2>Individuals sanctioned</h2>

Among those sanctioned are leaders of Maldives-based terrorist-affiliated criminal gangs and associates of key ISIS-K recruiter Mohamad Ameen — sanctioned by the OFAC in 2019.&nbsp;

The US Treasury Department website states that several of the sanctioned individuals have "also planned or carried out attacks that targeted journalists and local authorities."

<h2>Implications of the sanctions</h2>

As a result of this action, all "property and interests in property" of the designated individuals in the US or in possession or control of an American citizen stand blocked and must be reported to the OFAC.&nbsp;

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Furthermore, any entities owned "directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked."

Additionally, financial institutions or individuals that engage "in certain transactions or activities" with the sanctioned persons or companies may also be liable to sanctions or be the subject of enforcement action, warned the US Treasury Department.

(With inputs from agencies)

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The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on 20 individuals and 29 companies for "facilitating" the Islamic State of Iraq and Syria (ISIS) and Al-Qaeda in the Maldives.

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on 20 individuals and 29 companies for "facilitating" the Islamic State of Iraq and Syria (ISIS) and Al-Qaeda in the Maldives. As per the news agency PTI, among those sanctioned are 18 ISIS and ISIS-Khorasan (ISIS-K) facilitators and two al-Qaeda operatives. Depriving unwanted elements of funding In a statement released on Monday, State Department Spokesperson Matthew Miller said that the aim of these designations is to deter and disrupt financial and other forms of support for terrorist activities within the Maldives. "The United States is steadfast in its commitment to counter the threats posed by these terrorist support networks, both locally and internationally, and to ensure they are deprived of funding and resources for carrying out attacks," said Miller as reported by PTI. Also read | Exclusive: Taliban carrying out music's 'genocide' in Afghanistan, says Afghan music saviour Ahmad Sarmast "Treasury's actions today against ISIS and Al-Qaeda operatives and facilitators continue our efforts to help prevent and disrupt financial and other support for terrorist attacks globally," said Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence. "The United States is committed to denying funding and resources to these terrorist support networks and countering the threats they pose both locally and internationally," he added. Individuals sanctioned Among those sanctioned are leaders of Maldives-based terrorist-affiliated criminal gangs and associates of key ISIS-K recruiter Mohamad Ameen — sanctioned by the OFAC in 2019. The US Treasury Department website states that several of the sanctioned individuals have "also planned or carried out attacks that targeted journalists and local authorities." Implications of the sanctions As a result of this action, all "property and interests in property" of the designated individuals in the US or in possession or control of an American citizen stand blocked and must be reported to the OFAC. Also read | Explained | Where is Sahel region exactly and what's the trouble there Furthermore, any entities owned "directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked." Additionally, financial institutions or individuals that engage "in certain transactions or activities" with the sanctioned persons or companies may also be liable to sanctions or be the subject of enforcement action, warned the US Treasury Department. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US sanctions 20 individuals and 29 companies for facilitating ISIS and Al Qaeda in Maldives

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Islamic State, Al Qaeda biggest terrorism threat in India's Jammu and Kashmir: FATF

US sanctions 20 individuals and 29 companies for facilitating ISIS and Al Qaeda in Maldives