Financial Intelligence Units (FIUs) of India and Qatar concluded a productive two-day meeting in New Delhi, reinforcing their commitment to collaborate in the fight against money laundering and terrorism financing.
A nine-member delegation from Qatar, led by Sheikh Ahmed Al Thani, Head of FIU-Qatar, met with their Indian counterparts at FIU-IND, headed by Vivek Aggarwal, on November 4th and 5th.
The meeting facilitated a comprehensive exchange of information and strategies related to anti-money laundering and countering the financing of terrorism (AML/CFT).
Discussions covered a wide range of topics, including:
- Current AML/CFT practices: Both sides reviewed existing regimes and explored potential areas for enhanced collaboration.
- Technology and Information Sharing: India's sophisticated IT system, FINNET 2.0, garnered significant interest from the Qatari delegation. They also expressed a keen interest in understanding India's public-private partnership initiatives, FPAC and ARIFAC, which foster collaboration between the public and private sectors in combating financial crime.
- Information Exchange: Methods for effective information exchange were discussed, building upon the existing Memorandum of Understanding (MoU) signed in 2016. This MoU facilitates information sharing related to money laundering, terrorism financing, and associated predicate offenses.
This meeting underscores the strong and ongoing cooperation between FIU-Qatar and FIU-IND. Both are members of the Egmont Group and the Financial Action Task Force (FATF), actively participating in international initiatives to combat financial crime.
Sheikh Ahmed Al Thani extended an invitation to Vivek Aggarwal to visit FIU-Qatar in the near future, further solidifying the relationship and commitment to joint efforts in combating financial crime. This continued collaboration between India and Qatar signifies a strong step towards strengthening global efforts to curb money laundering and the financing of terrorism.
