Finance Minister Pranab Mukherjee to inaugurate Asia Pacific Group meet on money laundering

KOCHI: Even as the black money issue has assumed greater prominence in India, Union Finance Minister Pranab Mukherjee will formally inaugurate the 14th Annual Meeting of the Asia Pacific Group ( APG) on Money Laundering here on Tuesday.

The five-day meeting, whose pre-plenary sessions began today, will provide a platform for high-level discussion and co-operation and would evaluate the progress by APG members in implementing the international standards to combat money laundering and the financing of terrorism, a statement said.

The meet here assumes significance at a time when India has taken a strong position in the fight against black money. India took over as co-chair in the FATF in February this year.

More than 300 senior government officials from the Asia Pacific region and around the world are expected to attend the meet.

Giancarlo Del Bufalo of Italy, President of the Financial Action Task Force (FATF), which sets international standards to combat money laundering and terrorist financing, are among those expected to attend the meet.

The APG co-chairs for the meeting are K Jose Cyriac, Secretary to the Union Government and Tony Negus, the Commissioner of the Australian Federal Police.