Sitharaman stresses on strengthening global architecture to deal with financial crimes

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Sitharaman said that under the chairmanship of the G20, India, in collaboration with the OECD, has taken the lead in developing tax and financial crime investigation capacity in the South Asian region.

Gandhinagar. Finance Minister Nirmala Sitharaman on Sunday stressed on further strengthening the global framework to combat financial crimes, money laundering and sharing of information on various asset classes including cryptocurrencies. Addressing the G20 High Level Tax Seminar on Combating Tax Evasion, Corruption and Money Laundering, he expressed confidence that the G20 will continue to assist countries in enhancing law enforcement capacity. Sitharaman said that under the chairmanship of the G20, India, in collaboration with the OECD, has taken the lead in developing tax and financial crime investigation capacity in the South Asian region.

India has decided to launch a pilot on tax and financial crime investigation for the South Asian region on July 18 at the regional campus of the National Academy of Direct Taxes in New Delhi. This pilot is being organized in collaboration with the OECD. He said the G20 has helped push forward a number of reforms in the global tax, anti-corruption and anti-money laundering framework. This has helped in taking a more comprehensive approach to financial crimes.

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