New Delhi, Nov 1 (KNN) The central government is reviewing India's legal framework to identify gaps that financial offenders could exploit for laundering money, reported Mint.

Official sources told Mint that possible tweaks in rules and regulations can be expected over the next few weeks.

The focus is to ensure the legal system stands the scrutiny of the Financial Action Task Force (FATF) recommendations. India is undergoing a peer review by the UN body, which assesses the technical compliance of its recommendations and the effectiveness of a country's anti-money laundering and anti-terror financing framework.

"We are a diverse country with a huge amount of financial transactions every year. The focus of the government's review is on how robust is the enforcement of the legal framework," one of the two people told Mint on the condition of anonymity.

The focus of the government's review is on how robust is the enforcement of the legal framework.

The previous country review of India's regulatory framework was conducted in 2010.

(KNN Bureau)