In June 2026, India's financial sector launched 'Alliance of Reporting Entities in AML/CFT (ARIFAC)' to strengthen the country's Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) ecosystem amid rising financial crime and cyber fraud risks. The secretariat is managed jointly by the Payments Council of India (PCI) and the Fintech Convergence Council (FCC), with the Financial Intelligence Unit-India (FIU-IND) participating as an observer. ARIFAC includes banks, NBFCs, payment operators, securities intermediaries, insurance companies, and VDA service providers.
Economy
National Industry Platform 'ARIFAC' Launched to Strengthen India's AML/CFT Framework
Key Points
- In June 2026, India's financial sector launched 'Alliance of Reporting Entities in AML/CFT (ARIFAC)' to strengthen the country's Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) ecosystem amid rising financial crime and cyber fraud risks
- The secretariat is managed jointly by the Payments Council of India (PCI) and the Fintech Convergence Council (FCC), with the Financial Intelligence Unit-India (FIU-IND) participating as an observer
- ARIFAC includes banks, NBFCs, payment operators, securities intermediaries, insurance companies, and VDA service providers
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• ARIFAC: Alliance of Reporting Entities in AML/CFT; launched June 2026 • Secretariat: Payments Council of India (PCI) + Fintech Convergence Council (FCC) • Observer: FIU-IND (Financial Intelligence Unit-India) • Members: banks, NBFCs, payment operators, insurers, VDA (crypto) service providers under PMLA
