After cautioning Indian markets about possible money laundering and terror-funding risks from Iran and North Korea, market regulator SEBI has issued a warning for funds from eight more countries, including Turkey and Ethiopia. A similar warning could be issued soon by the Reserve Bank of India (RBI) to banks and financial institutions seeking caution in dealings with entities and funds related to the eight nations, which also include Bolivia, Cuba, Kenya, Myanmar, Sri Lanka and Syria. The Sebi warning follows a global caution notice from the Financial Action Task Force (FATF), the global oversight and policy-framing body for rules to combat money laundering and terror funding risks to international financial markets. The FATF periodically issues such public notices to various foreign governments, which subsequently forward the same to their respective financial regulators.
Source : Moneycontrol
Source : Moneycontrol
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