41st plenary meeting of the Eurasian Group (EAG) begins in Indore: India praised for FATF ratings | Indore News

Indian fintech experts shared their thoughts, and participating countries will adopt a resolution outlining cooperation strategies and law enforcement training.

INDORE: The 41st plenary meeting of the Eurasian Group (EAG) began in Indore on Monday with delegates from 23 countries praising India’s Financial Action Task Force (FATF) ratings. Additional Secretary in the Union Finance Ministry Vivek Aggarwal told reporters: “The delegates spoke about the excellent rankings India has received in the world as assessed by FATF. The EAG is expected to approve the report.”
The FATF assessment is being carried out in earnest, involving many global players, including the IMF. He said, adding: “The assessment examines financial security systemher fighting mechanisms money launderingterrorist financing and cybercrime. India was highly commended in this global assessment and representatives from all countries congratulated India and its leadership for this achievement.”
Additional sessions will be held on money laundering techniques, how cross-border money transfers are used for laundering, strategies used in terrorist financing, and current provisions to stop them. The discussions will also look at cybercrime cases around the world.
Aggarwal said a full-day session is planned where experts from the Indian fintech industry and the financial innovation sector will interact with participants. “They will discuss new financial products, the potential scale of crime in the digitalization of finance and strategies to combat these problems. Discussions will also include ways to collect financial information and understand the financial safeguards implemented in the country,” he said.
Delegates will also discuss the types of training that can be provided to law enforcement agencies to effectively combat such crimes. Aggarwal said the participating countries will adopt a resolution at the plenary meeting on November 29 based on the discussions held in the first sessions.
“The issues discussed and knowledge gained, such as law enforcement training, potential resources and tools to combat these crimes, will be adopted by the participating countries. They will also commit to implementing these measures,” he said. The plenary session will be opened by Governor Mangubhai Patel on November 29.
Earlier in the day, the delegates were welcomed by Madhya Pradesh Minister Kailash Vijayvargiya, Indore Mayor Pushya Mitra Bhargav and MP Shankar Lalwani. More than 180 delegates are taking part in the five-day event.