ARIFAC launched to boost India’s fight against money laundering and terror financing
18 Jun 2026, 12:22 PMThe platform's secretariat will be jointly managed by the Payments Council of India (PCI) and the Fintech Convergence Council (FCC).
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A new industry-led platform, the Alliance of Reporting Entities in AML/CFT (ARIFAC), has been launched to strengthen India's anti-money laundering (AML) and counter-terrorism financing framework by improving collaboration among financial institutions and regulated entities.
The initiative will function as a private-sector partnership, with the Financial Intelligence Unit-India (FIU-IND) participating as an observer.
The platform's secretariat will be jointly managed by the Payments Council of India (PCI) and the Fintech Convergence Council (FCC).
ARIFAC plans to focus on professional training, certification programmes, workshops, and awareness-building initiatives aimed at improving AML/CFT compliance standards across the financial sector.
The platform will bring together reporting entities from a wide range of sectors, including banks, non-banking financial companies (NBFCs), payment service providers, insurance firms, securities market intermediaries, cooperative institutions, and virtual digital asset service providers. The alliance seeks to encourage knowledge sharing, strengthen compliance capabilities, and support efforts to curb financial crimes while enhancing the integrity of India's financial system.
In addition, ARIFAC will establish dedicated working groups to address priority issues such as enhanced due diligence, sanctions screening, cross-border information sharing, digital banking risks, mule account detection, and virtual digital asset oversight. These groups will develop practical recommendations and industry frameworks for broader adoption.
The launch comes amid growing concerns over increasingly sophisticated financial crimes such as cyber-enabled fraud, money laundering, terrorist financing, sanctions violations, mule account networks, and risks associated with digital assets.
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