FATF: Underground Banking And Digital Hawala Fuel Global Money Laundering Networks

The Financial Action Task Force has released a new report underscoring the growing role of underground banking, hawala and other similar service providers in facilitating illicit finance.The report highlights the vulnerability of these systems to money laundering and terrorist financing. In some cases, more than ₹4,500 crores were laundered through underground banking and hawala-based schemes
The Financial Action Task Force has released a new report underscoring the growing role of underground banking, hawala and other similar service providers in facilitating illicit finance.The report highlights the vulnerability of these systems to money laundering and terrorist financing. In some cases, more than ₹4,500 crores were laundered through underground banking and hawala-based schemes
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