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Article: US CALLS FOR INDIAN LEGISLATION ON MONEY LAUNDERING.
- Article from:
- AsiaPulse News
- Article date:
- March 2, 2000
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WASHINGTON, March 2 Asia Pulse - India should set up a financial intelligence unit to check money laundering and other related crimes as they have become a growing concern, given the country's population and its emergence as a regional financial centre, the United States today said.
"India needs to pass and then implement its draft legislation in order to protect its financial institutions from money laundering and other financial crimes," the State Department said in its annual report on international narcotics control strategy.
"The money laundering situation in India is complex. There are many sources of illicit funds, including corruption, ...