New Delhi: The Financial Action Task Force (FATF) Private Sector Collaborative Forum (PSCF) 2025 will be held from 25th -27th March 2025, in Mumbai. The forum is being hosted by the Reserve Bank of India (RBI) and the Department of Revenue, Ministry of Finance, Government of India, reaffirming India’s responsible leadership in global efforts to combat money laundering and terrorist financing.
FATF President Elisa de Anda Madrazo will formally inaugurate the PSCF 2025 on 26th March, 2025, with Reserve Bank of India (RBI) Governor Shri Sanjay Malhotra presiding over the event. The Indian delegation to PSCF is a multi-disciplinary team led by Shri Vivek Aggarwal, Additional Secretary (Revenue), Ministry of Finance.
India’s participation in FATF initiatives has been widely recognised. India is a member of steering group of FATF and also co-chairs a working group on Risks, Trends and Methodologies work group. In November 2024, India hosted the plenary of Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) in Indore. In June 2024, India’s FATF Mutual Evaluation Report was tabled at the FATF Plenary in Singapore and subsequently released in September 2024. India achieved the best possible outcome by being placed in ‘regular follow-up,’ a status that only a few countries have attained in their Mutual Evaluations.
The report commended India’s exemplary efforts in curbing money laundering and terrorist financing, highlighting the country’s advanced fintech ecosystem, innovations like the Unified Payments Interface (UPI) and Aadhaar-enabled digital identity verification, and proactive inter-agency coordination. India’s approach has set a global benchmark for integrating technology with financial security.