FATF report highlights misuse of shell companies and hawala in India
A recent FATF report includes two instances from India where shell firms, fraudulent trade paperwork, and money from illicit online betting were laundered using hawala networks and UPI mule accounts. More than 80% of the countries surveyed identified informal financial channels as primary methods for money laundering. The FATF President cautioned that these systems act as a significant risk multiplier that negatively impacts societies worldwide.
by shortkt.com✓