💨 Abstract

RBI Governor Sanjay Malhotra has expressed concerns about the evolving and sophisticated threats of money laundering and terror financing to the national and global financial systems. He emphasized the need for close cooperation among stakeholders, strengthening the financial system, and having laws and regulations that target only illegitimate activities. The RBI Governor also highlighted the importance of reducing compliance burden and continuously improving risk assessment models to combat these threats.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖