Muthoot Finance said it was the only Indian NBFC to be selected for The Financial Action Task Force’s (FATF) Mutual Evaluation report 2023-24.

“This selection from FATF is a significant achievement for us and is testimony to Muthoot Finance’s legacy as a trusted brand not just in India, but globally,” Muthoot Finance MD George Alexander said in a statement.

FATF is a global agency formed in 1989 to develop policies to combat money laundering, terrorism financing and several other significant threats to soundness of the financial system.

The task force has conducted an extensive evaluation on various parameters such as the actions taken/efforts made by Indian law enforcement agencies, leading industry bodies, and institutions like banks, NBFCs, and other key players in the market in compacting money laundering, terrorism financing and proliferation financing.