WASHINGTON — Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson will travel to New Delhi and Mumbai, India from December 11-15 to continue work with our important partner and ally on combatting illicit finance and anti-money laundering and countering the financing of terrorism (AML/CFT) issues.
While in New Delhi, Under Secretary Nelson will meet with government officials to discuss Treasury’s commitment to working with India to further secure the international financial system from abuse by illicit actors. He will discuss opportunities to work together to cut off sanctions evasion and address terrorist financing, including disrupting the ability of terrorist groups to leverage the international financial system to raise and move funds. The Under Secretary will also chair a meeting of the re-established U.S. – India AML/CFT Working Group, where participants will discuss virtual assets, sanctions implementation, financial inclusion, and beneficial ownership implementation. Ahead of the January 1st, 2024 launch of the U.S. beneficial ownership registry, Under Secretary Nelson will seek insights from Indian counterparts on their experiences over the past six years launching and operating their domestic registry.
In Mumbai, Under Secretary Nelson will meet with the private sector to discuss Treasury’s continued work to enforce sanctions on Russia for its brutal war against Ukraine as well as the price cap on Russian oil. He will also solicit their perspectives on managing illicit finance risks and their experience in implementing India’s beneficial ownership laws.
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