The placement on to grey list could hurt Pakistan's economy as well as its international standing.
Modi, who visited Cyprus in the first leg of his three-nation visit, reiterated India's support for Cyprus's unity and for a peaceful resolution of the Cyprus Question based on UN Security Council resolutions, international law, and the EU Acquis.
Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terror financing.
AIMIM chief Asaduddin Owaisi slammed Pakistani politician Bilawal Bhutto-Zardari for his "blood would flow in rivers" remark and called former cricketer Shahid Afridi a "joker" for his comment on the Pahalgam terror attack. Owaisi also supported India's decision to suspend the Indus Waters Treaty and called for Pakistan to be placed on the FATF grey list. He also advocated for cyber attacks against Pakistan.
Suhas Shetty, a known rowdy sheeter and Hindu activist, was murdered by an unidentified group late on Thursday within the Bajpe police station limits in Mangaluru city.
India will argue for Pakistan's return to the Financial Action Task Force (FATF) grey list due to its alleged failure to combat money laundering and terror financing. The move comes after recent tensions between the two countries following a terror attack in Pahalgam, India. India believes Pakistan has not adequately addressed the issue of terrorism emanating from its territory and has diverted funds from multilateral agencies towards arms purchases.
Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said regulations should not create unintended barriers to financial inclusion while emphasising that the impact of regulations on individuals and businesses should be considered.
In its recent report, the Financial Action Task Force has stated that 1,704 cases of money laundering are currently under probe in India. But the conviction rate in cases of money laundering, which are being probed by the task force, is a shocking three per cent.
Khelo Bharat Niti: Regulatory bodies for better sports administration but will IOA, NSFs play ball?
For the first time, the Data Security Council of India assembled a joint task force to source threat intelligence at the origin and ensure coordinated action across the cybersecurity spectrum.
"Are we not giving a picture that there is no other person and the entire department is full of incompetent people?" a bench headed by Justice B R Gavai told Solicitor General Tushar Mehta.
'I will not be surprised if there is a 7 per cent handle in front of the decimal place for the full financial year.'
The Chhattisgarh assembly was informed that 177 security and police personnel, including those from paramilitary forces, have committed suicide in the state in the last six-and-a-half years. Family, personal issues, and health problems are cited as reasons.
'The precision strikes were well planned and excellently executed. The world will be studying this operation.'
Thailand has prepared a list of 291international terrorists and terrorist organisations to be banned from conducting financial transactions in the country, a senior official said on Tuesday.
India is pushing for greater disclosures by credit card companies, fintech firms, and payment aggregators (PAs) at the Financial Action Task Force (FATF), so that the sender and recipient in a cross-border financial transaction can be easily identified and the information shared with law enforcement agencies. Separately, the inter-governmental group, which sets standards to curb money laundering, will release the fourth round of its mutual evaluation report on India on September 19. FATF in June had adopted the mutual evaluation report on India and placed the country in the "regular follow-up" category - the highest rating given by the global watchdog and a distinction shared by only four other G20 countries.
The world should remain clear that Pakistan must continue to take 'credible, verifiable and irreversible' action against terrorism, India said after anti-money laundering watchdog Financial Action Task Force (FATF) removed the neighbouring country from its 'grey list'.
The Reserve Bank of India (RBI) has updated Know Your Customer (KYC) norms for politically exposed persons (PEPs) who transact with regulated entities (REs), seeking to comply with the recommendations of intergovernmental organisation Financial Action Task Force (FATF). PEPs are individuals entrusted with prominent public functions by a foreign country, including the heads of states/governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials, said the RBI. This change is expected to provide more clarity to undertake Customer Due Diligence (CDD), said the RBI in a communication to REs.
In order to safeguard Indian markets from money laundering and terror financing risks from Iran, watchdog Sebi has asked market players to be cautious in dealing with entities and funds from that country.
The Reserve Bank on Thursday instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary. The central bank has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers and also aligned the same with the relevant recommendation of the Financial Action Task Force (FATF). "All cross-border wire transfers shall be accompanied by accurate, complete, and meaningful originator and beneficiary information...," as per the updated instructions in the Master Direction.
'You can be sure that the Pakistanis knew when the Indian Air Force aircraft took off, which type these were, and what their likely targets were.' 'The question was: How would they determine that the IAF wanted to fire, and when to bounce them?', notes Shekhar Gupta.
Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.
'I don't think it is right to remove him over one lapse. The focus should be on restoring operations, not on removing a key management personnel.'
Market regulator Sebi on Tuesday said foreign investors from Mauritius will continue to be eligible for FPI registration with increased monitoring as per international norms. The announcement comes after the tax haven was put on the "grey list" of Financial Action Task Force (FATF) -- an inter-governmental policy making body that sets anti-money laundering standards.
It said a "sudden rise" in terrorist-financing investigations was seen in 2023 and this was attributed to events arising out of incidents in Manipur that led to such probes in more than 50 cases.
Majithia and his wife claimed that members of the Vigilance Bureau barged into their house in Green Avenue in Amritsar. They claimed that a similar raid was conducted at their residence in Chandigarh.
Committed to the full implementation of international standards to combat money laundering and terror financing, India on Tuesday said it was making suitable amendments to converge the country's existing laws with the recommendations of the global Financial Action Task Force.
'Operation Sindoor is still ongoing. The Prime Minister himself said that blood and water cannot flow together, that talks and terrorism cannot go together. So how can we have a cricket match with a country that indulges in terrorism?'
'Every decision India makes along the LoC, it must also consider implications along the LAC.'
'The banking channel is gradually becoming the most preferred way of transaction for terrorist outfits.'
Pakistan has been on the grey list of the Paris-based Financial Action Task Force since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
The National Stock Exchange (NSE) has offered to pay Rs 1,388 crore to the Securities and Exchange Board of India (Sebi) to settle the colocation and dark fibre cases, potentially clearing the way for its much-awaited initial public offering (IPO). This is the biggest-ever settlement plea made with the markets regulator.
On 11 effectiveness parameters of terror financing and money laundering, Pakistan was adjudged as low on 10.
Sources stated that a discussion is likely on the changed geopolitical situation in wake of the Taliban taking over Afghanistan and the drawdown of the US forces from the region.
Former India opener and BJP MP Gautam Gambhir on Friday said that there should not be any relation with Pakistan till cross-border terrorism gets over.
Replying to a debate on the bill, Jaishankar said all members who spoke on the proposed legislation recognised that terrorism is a serious threat and so are weapons of mass destruction.
Was Lieutenant General Ayman Bilal Safdar removed because he criticised army chief, General Asim Munir, asks Rana Banerji, who headed the Pakistan desk at RA&W.
