In the countries in my constituency, adequate legal and institutional frameworks to address the money laundering and financing of terrorism are in place. In India, this has been further strengthened by enacting a comprehensive Prevention of Money Laundering Act. This Act had factored in the relevant portions of the FATF-40 recommendations.
While National Government builds infrastructure, we at the BSP are focused on the FINfrastructure – (this is a word I coined) referring to the financial infrastructure. We are encouraging further digitization of the financial sector.