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India today signed an agreement with the Eurasian Group (EAG) to enhance co-operation in the areas of combating money laundering and financing of terrorism.
The EAG is a financial action task force (FATF) styled regional body with nine members including India, Russia and China and 29 observers of which 12 are countries and 17 are international organisations. India was accorded membership in the EAG in December 2010. There are nine such regional bodies spread across the world.
The agreement with EAG was signed by Dr Thomas Mathew, Joint Secretary (capital markets division of Department of Economic Affairs), on behalf of India. The Union Cabinet had earlier this month given its nod for the agreement.
A six-member Indian delegation led by Dr Mathew is currently attending the 15{+t}{+h} Plenary meeting of the Eurasian Group on Combating Money laundering and Financing of Terrorism being held at Xiamen in China.
India has also offered help to member nations in enhancing their technical skill in establishing better financial systems, capital market monitoring and surveillance through sophisticated IT tools. Help was also offered in drafting legislation, law enforcement techniques and strengthening of their respective Financial Intelligence Units (FIUs).
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