Mumbai to host FATF Private Sector Collaborative Forum 2025 Meeting

Mumbai, financial capital of India will host the 2025 Private Sector Collaborative Forum (PSCF) meeting of the Financial Action Task Force (FATF) from 25-27th March 2025. The Private Sector Collaborative Forum of the FATF is an annual meeting which seeks to foster collaboration between the FATF and the civil society & private sector to fight against money laundering & terrorist financing other financial crimes.

The 2024 FATF Private Sector Collaborative Forum Meeting was held in Vienna, Austria in April 2024 and was hosted by the United Nations Office on Drugs and Crime (UNODC).

Host of the 2025 PSCF Meeting

• The 2025 PSCF is being organised by the apex global anti money laundering organisation FATF. 
• It is being hosted by the Reserve Bank of India (RBI) in collaboration with the Department of Revenue, Union Ministry of Finance.

Who will inaugurate the 2025 PSCF? 

The 2025 PSCF will be officially inaugurated by the FATF President Ms. Elisa de Anda Madrazo on 26th March 2025.

The event will be presided by the RBI Governor Sanjay Malhotra. During the PSCF meeting the Indian delegation will be led by Vivek Aggarwal, Additional Secretary (Revenue), Union Ministry of Finance.

About the PSCF meeting and its Agenda

The annual PSCF meeting seeks to enhance collaboration between the private sector and the civil society with the FATF member countries to strengthen global anti money laundering (AML) and combating the financing of terrorism (CFT) mechanism.

The meeting will be attended by more than 250 representatives from the financial sector, non-financial businesses and professions, civil society, academia, FATF members and other stakeholders. 

Agenda of the Meeting 

Discussion will be held to take measures so as to strengthen the effectiveness of AML/CFT efforts in face of emerging new threats.

Discussion on enhancing transparency in beneficial ownership and use of digital tools to strengthen AML/CFT compliance mechanisms.

Discussion on Information-sharing practices within the private sector to address emerging financial crime threats effectively.

About  Financial Action Task Force (FATF)

The Financial Action Task Force was set up by the Group of Seven (G-7) countries at its 1989 Summit meeting held in Paris, France.

It is  the apex global anti-money laundering and anti- terrorist financing  body.

It sets the global standards on:

• anti-money laundering(AML);
• combating the financing of terrorism(CFT); and 
• proliferation financing (providing funds or financial services for the development of weapons of mass destruction, i.e. chemical, biological or nuclear weapons),

It issues recommendations to countries and assesses whether countries are taking effective action against money laundering and anti-terrorist financing. 

Members of FATF 

Members -40 . t includes 38 countries (including Russia) and two regional organisations.

Russian membership has been suspended since 2023 due to its invasion of Ukraine.

It has two regional organisation - Gulf Cooperation Council and the European Union -as its members.

India joined the FATF in 2010.

Headquarters: Paris, France.

President of FATF:  Ms. Elisa de Anda Madrazo