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A nine-member delegation from Qatar's Financial Intelligence Unit visited its Indian counterpart, led by Vivek Aggarwal, Head of FIU-IND, during a two-day visit that concluded today.
The visit aimed to strengthen relations between the two FIUs and reaffirm their commitment to jointly combat money laundering and terrorism financing. During discussions, Aggarwal and Sheikh Ahmed Al Thani, Head of FIU-Qatar, reviewed current Anti-Money Laundering and Combating the Financing of Terrorism practices and explored potential areas for collaboration. "This meeting proved enriching for both sides as they examined topics such as the IT systems used in each jurisdiction, FIU-IND's Public-Private Partnership initiative (FPAC), the Private-Private Partnership for the Alliance of Reporting Entities in India for AML/CFT (ARIFAC), strategic analysis, and various tools employed by both FIUs. FIU-IND's experience with virtual digital asset service providers (VDA-SPs) was also highlighted, along with effective methods of information exchange," the Ministry of Finance said in a statement. FIU-Qatar praised FIU-IND's IT system, FINNET 2.0, describing it as one of the most advanced systems used by any FIU. They also expressed interest in understanding FIU-IND's Private-Private Partnership Initiative, which supports collaboration among private sector entities in the AML/CFT regime. FIU-Qatar and FIU-IND have cooperated informally over the years on cases related to money laundering and terrorism financing. Both FIUs are members of the Egmont Group and FATF and actively participate in various international initiatives. In June 2016, the two FIUs signed a Memorandum of Understanding to strengthen cooperation and information exchange on money laundering, terrorism financing, and related offences. Sheikh Ahmed Al Thani invited his Indian counterpart to visit FIU-Qatar in the near future. (ANI)
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