By Nikunj Ohri and Manoj Kumar
The Financial Action Task Force (FATF) global anti-money laundering watchdog has asked India to improve due diligence on the bank accounts of local politicians, government officials and their families, two government sources said.
The recommendation for tougher checks on the finances of politically exposed persons (PEPs) is part of a FATF review of India’s anti-money laundering systems that began in 2023. The group is due to publish its final report soon.
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