No money laundering in India!

Tucked away in the government files is a strong indictment of India’s record in tracking money laundering by the world body for financial intelligence, of which India also is a member. If we are to get a sense of why the debate on black money is climbing all the wrong trees, this report is worth examining. The report by the Financial Action Task Force (FATF), which brings together the top 34 countries of the world and two multi-lateral bodies in a closed group, has noted that since 2006, when India passed its money laundering Act till now, not a single case has finally reached conviction.

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