T. Raja Kumar of Singapore has been appointed as the president of Financial Action Task Force (FATF), the anti-money laundering watchdog. Kumar has replaced Marcus Pleyer who was holding the post till now, and will discharge his service for next two years. "Raja Kumar starts as FATF President today. He will focus on enhancing the effectiveness of global anti-money laundering & counter-terrorist financing measures, improving asset recovery and other initiatives," FATF tweeted while making the announcement on Friday.
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