New Delhi, Nov 5: A latest FATF report has acknowledged India’s legal efforts in recovering public assets defrauded through financial crimes citing an ED money laundering case, where land confiscated by the agency has been identified for constructing an airport that will benefit the society.

The 340-page report titled ‘Asset Recovery Guidance and Best Practices’ has cited the country’s anti-money laundering mechanisms deployed for securing assets worth crores of rupees under various circumstances — domestic, international, expeditious requirements and while dealing with fugitives who have fled the country after perpetrating scams and frauds.

The Paris-headquartered Financial Action Task Force (FATF) sets global standards for combating money laundering and terrorist financing crimes.

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