The fight against terror financing requires both multilateral norms and domestic teeth. Critically evaluate India's record in light of its 2024 FATF Mutual Evaluation.

Terror financing is a transnational threat that no single state can defeat alone; it demands both global standard-setting through the Financial Action Task Force (FATF) and robust domestic enforcement. India's 2024 Mutual Evaluation — placing it in the elite "regular follow-up" tier alongside only four other G20 nations — validates a maturing record, though implementation gaps persist [1].

Multilateral norms — a strong record

• India's outstanding MER outcome at the June 2024 Singapore Plenary reflects high technical compliance with FATF's 40 Recommendations [1].
• Rising institutional stature: India hosted PSCF 2025 in Mumbai and secured the FATF Vice-Presidency (July 2026–June 2027), boosting leverage on cross-border terror financing [2][3].

Domestic teeth — substantive but uneven

• Legislative spine: PMLA 2002, UAPA 1967, Fugitive Economic Offenders Act 2018, Black Money Act 2015.
• FATF lauded the JAM Trinity and cash-transaction curbs as effective AML levers [4].
• 2023 PMLA notifications brought crypto/VDAs and professionals under the reporting ambit.

Persisting weaknesses

• Inter-agency coordination among ED, FIU-IND, NIA, CBI remains fragmented.
• Low conviction rates and delays in concluding money-laundering prosecutions.
• FATF flagged the need to strengthen supervision of non-financial sectors.

India's trajectory shows norms and domestic law reinforcing each other, yet enforcement efficiency lags legislative ambition. Consolidating conviction outcomes and inter-agency synergy — while leveraging its FATF Vice-Presidency to globalise the terror-financing agenda — would convert India's regulatory credibility into durable security dividends, advancing SDG 16 on peace and strong institutions.