As a member of FATF and in accordance with the recommendations of FATF, India introduced anti-money laundering Act a few years back. The Indian regulator SEBI accordingly issued directions to all intermediaries (Reporting entities) to comply with the said law and report various categories of suspicious transactions to Financial Intelligence Unit (FIU).
- Our Partners, Sunil Gidwani and Suraj Nangia write an exclusive piece on Indian Alternate Investment Funds—Application of Anti-Money Laundering Law for Bloomberg- US wherein they discuss the AML law in the light of FATF recommendations and draw a parallel from guidelines issued by the regulator .
Attached is link to the article
https://news.bloombergtax.com/daily-tax-report/insight-indian-alternate-investment-funds-application-of-anti-money-laundering-law
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