RBI Governor Sanjay Malhotra on 26th March stressed the need to strengthen India’s anti-money laundering (AML) and counter-terrorism financing (CFT) measures.  

Speaking at the FATF (Financial Action Task Force) Private Sector Collaborative Forum, he highlighted India’s globally recognised efforts and the crucial role of private sector collaboration in financial security.  

While technology enhances business, he warned, it also enables advanced money laundering risks, requiring proactive measures.

Malhotra called for better data quality and the use of AI (Artificial Intelligence), ML (Machine Language), and blockchain to improve AML risk assessment and threat detection.  

He emphasised balancing security with inclusion, as over 90% of India’s adults now have bank accounts.  

The RBI will continue enhancing AML and CFT measures, improving KYC (Know Your Customer) and digital onboarding, and streamlining cross-border payments.

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