Reserve Bank has prohibited Indian entities from making direct investments in any entity located in ‘non co-operative countries and territories.’
This is as identified by the inter-governmental body FATF.
The Financial Action Task Force (FATF) currently comprises two regional organisations and 35 member jurisdictions, including India, US, UK, China and the European Commission.
FATF was established in 1989.Its objectives are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
FATF: Know More- Abbreviation: FATF
- Formation: 1989
- Type: Intergovernmental organization
- Purpose: Combat money laundering and terrorism financing
- Headquarters: Paris, France
- Region served: Worldwide
- Membership: 36
- Official language: English, French
- President: Roger Wilkins
