International Cooperation — Prelims Strategy

Prelims Strategy

For Prelims, focus on factual accuracy and conceptual clarity regarding international cooperation in AML. Firstly, memorize the key multilateral organizations: FATF (its mandate, 40 Recommendations, mutual evaluations, Grey/Black lists, India's membership year), Egmont Group (its function as an FIU network, FIU-IND's role), UNODC (key conventions like Palermo, Merida, Vienna, and their relevance).

Secondly, understand the core bilateral mechanisms: Mutual Legal Assistance Treaties (MLATs) and Extradition Treaties – know their purpose and key principles like 'dual criminality.' Thirdly, be aware of India's specific legal provisions: PMLA (Sections 56-60 for international cooperation), FEMA (cross-border elements), and FEOA (its purpose and international aspects).

Fourthly, stay updated on recent developments, especially concerning FATF compliance, new bilateral agreements, and the regulation of digital assets. Pay attention to the distinction between the roles of different bodies (e.

g., FATF sets standards, Egmont facilitates intelligence sharing). Practice MCQs that test your understanding of these organizations, their functions, and India's participation. Focus on 'what' and 'who' questions, along with 'why' certain mechanisms are important.