FATF Eurasian Group Meeting From Nov 25 to 29; Financial Intelligence Unit Director Reviews Preparations

Indore (Madhya Pradesh): Vivek Agrawal, Director Financial Intelligence Unit (FIU) and Additional Secretary in the Union Finance Ministry, said in the forthcoming meeting of Eurasian Group (EAG), regional group of Financial Action Task Force (FATF), the delegates will discuss on the ways to make strategy to counter money laundering, terror financing and cyber frauds.

In the recent ranking of FATF, India stood at top position in countering all these challenges with the help of Enforcement Directorate (ED) and FIU. The 41st meeting of EAG is scheduled in the city from November 25 to 29. Agrawal came here to take stock of the preparations of the meeting. A former collector and currently Director of FIU, Agrawal said FATF is a global body to counter terror financing and money laundering.

“India, China, Russia are members and Japan and USA are observers. Its plenary meetings are held twice a year. About 200 delegates from across the world will participate,” Agrawal said.

They will discuss the risks pertaining to money laundering and terror financing prevailing in the region and the world. Strategy will be developed to counter them. In the meeting, the local officers of the agencies concerned like ED, cyber crime, RBI, SEBI and district administration will also be invited. Cyber security and cyber crimes will be discussed in detail.

“This is a major opportunity for the country, because, in the recent evaluation of FATF, India’s ranking stands at top. India did remarkable work through the agencies like ED, FIU and intelligence agencies. When our neighbours will strive to do any such act, we will be able to bind them in the framework of FATF and control them.” “Foreign investment comes when they realise that our financial system is secure. What we are working on is assuring to the world that our financial system is secure. Such conferences give a positive message to the foreign investors as well,” Agrawal said. 

Delegates to visit Daly College, Mandu

Earlier, Agrawal held a review meeting about the preparations at Brilliant Convention Centre. He said all preparations should be done as per the standards for this prestigious event. Divisional commissioner Deepak Singh, collector Asheesh Singh and all the officers associated with the event were present.

The collector informed about the preparations made so far. All the guests will be welcomed as per Indian tradition. Money exchange counters and health check-up facilities have also been ensured. Under the guidance of the divisional commissioner, arrangements have been made for the delegates to visit the major tourist places of the city, including Daily College and Mandu in Dhar district.

Opportunity for Indore to showcase tradition, cleanliness

While hosting the conference, the city will have an opportunity to showcase its culture, heritage and cleanliness before the delegates from various countries. They will be able to know the tradition, heritage of India and hospitality of the city and the state. The event will be helpful in promoting the fame of the city. The delegates will be taken for a visit to the prominent places of the city.