The Department of Revenue under India’s Ministry of Finance hosted the APG Annual Typologies Workshop in New Delhi from November 28 to December 1, 2023. This was the first in-person workshop since 2018, with 26 jurisdictions participating.
About the Workshop
– Organised by the Asia Pacific Group on Money Laundering (APG) and the World Bank
– Focuses on discussing money laundering and terrorist financing trends and policy issues
– 23 workshops held since APG formed in 1997
Key Highlights
– Welcome address by Vivek Aggarwal, Head of Indian Delegation to FATF
– Adoption of annual typologies report on money laundering, terrorist financing and proliferation financing trends
– Report highlights threats posed by virtual assets and virtual asset service providers
– Workshop divided into 3 streams: Virtual Assets, Illegal Phishing, Tax Crimes
– World Bank covered ‘whole-of-government’ approach to taxing crime
– Virtual asset stream focused on risk assessment, private sector perspective, case studies
– Illegal fishing finances discussed as an emerging complex challenge
– APG has 42 members, largest FSRB in terms of size and membership
The workshop provided an important platform for stakeholders to discuss emerging financial crime trends and policy issues. India’s hosting of the event demonstrates its commitment to global cooperation on anti-money laundering and combating financing of terrorism.