The Financial Action Task Force (FATF) has urged India to strengthen its supervision of virtual assets

The Financial Action Task Force (FATF) on Thursday announced that India has "technically complied with the FATF recommendations to a high degree and has taken significant steps to implement the fight against illicit financing" following a joint assessment with the Asia Pacific Anti-Money Laundering Group (APG) and the Eurasia Group (EAG). But noted areas for improvement, particularly in regulating the non-financial sector and virtual asset providers. India was urged to adopt a risk-based approach to protect non-profit organisations and address delays in financial crime prosecutions.