Banks, fintechs join forces to fight money laundering, terror financing under new platform

India's financial sector has launched a new platform called ARIFAC. This initiative brings together banks, NBFCs, payment firms, insurers, and other entities. ARIFAC aims to improve anti-money laundering and combating financing of terrorism efforts. It will focus on training, sanctions, and digital risks. The platform will foster collaboration and enhance compliance standards across the industry.

Raccontata daeconomictimes.indiatimes.com