India is set to host the Financial Action Task Force (FATF) Private Sector Collaborative Forum (PSCF) 2025, a three-day international event running from March 25 to March 27 at Mumbai’s Jio World Convention Centre. The forum, jointly organized by the Reserve Bank of India (RBI) and the Department of Revenue under the Ministry of Finance, underscores India’s growing prominence as a leader in global efforts to combat money laundering and terrorist financing.
The PSCF 2025 will officially be inaugurated on March 26 by FATF President Elisa de Anda Madrazo. The event will be presided over by the Governor of the Reserve Bank of India, with India’s delegation led by Vivek Aggarwal, Additional Secretary (Revenue) from the Ministry of Finance. The forum provides a critical platform for dialogue between FATF member nations, private sector stakeholders, and international organizations, aimed at strengthening the implementation of FATF’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) standards.
India’s leadership role within FATF has been a source of international recognition, reinforced by its active participation in steering committees and working groups. In November 2024, India hosted the plenary of the Eurasian Group on Combating Money Laundering and Financing of Terrorism in Indore. Earlier, in June 2024, the FATF Mutual Evaluation Report for India was discussed at the FATF Plenary in Singapore and released in September 2024. The report lauded India’s robust mechanisms to curb financial crimes, highlighting key innovations such as the Unified Payments Interface (UPI), Aadhaar-enabled digital identity verification, and coordinated actions across governmental agencies. India’s inclusion in the ‘regular follow-up’ category—a distinction achieved by only a select group of countries—reaffirms its commitment to adhering to international standards.
The PSCF 2025 agenda aligns with global priorities and focuses on themes like payment transparency, financial inclusion, and digital transformation of financial systems. Against the backdrop of rapidly evolving financial crimes, including those linked to cryptocurrencies, India’s use of technology and risk-based approaches will serve as a model for participants. The event will feature discussions on pressing issues such as beneficial ownership transparency, risk-based supervision of regulated entities, and the use of digital tools for enhancing compliance with AML/CFT guidelines. Representatives from FATF’s global network, financial institutions, designated non-financial businesses, virtual asset service providers, and academic circles will convene to explore these topics.
Participants will also delve into strategies for countering emerging threats related to terrorist financing and proliferation financing, emphasizing the need for enhanced resilience and international collaboration. The event will include an evaluation of private sector information-sharing practices to bolster collective defenses against financial crime.
By hosting PSCF 2025, India reaffirms its commitment to global financial security and its leadership in international AML/CFT initiatives. The forum is expected to yield actionable insights and reinforce the shared objectives of FATF member states in fostering a secure, transparent, and inclusive financial system. Through its role as host and active participant, India continues to solidify its position as a pivotal player in the global fight against financial crimes.
