The Chinese government has accused India of “misleading” the public about its anti-money laundering and anti-terrorist financing measures, and has launched a “serious investigation” into the countrys anti-corruption efforts.
The government’s anti of corruption efforts have also been the subject of “suspicion” by India’s top advertising company, Adex.
The US-based company, which produces TV, radio and mobile ads, on Thursday said that “sabotage” of the anti-terror financing measures was one of the most “serious” threats to the ad industry in India, and that India was not “prepared to take seriously” the allegations.
The Indian government had previously accused the advertising company of misleading the public by suggesting that it was not ready to take on the anti bank financing measure, but Adex has maintained that its anti bank measures were “essential to protecting our industry from fraudulent activity”.
The US ad company, in a statement to The Wall Street Journal, said that the government’s measures were an “abject failure” and “unwarranted”.
“Our company’s research indicates that this is the worst anti-terrorism financing measure the government has undertaken to date, and our analysis indicates that the measures have the potential to undermine confidence in India’s own anti-fraud efforts,” the company said.
The statements come after a number of high-profile media companies including The Times of India, NDTV and The Times Of India-owned Times Group said they would be “vigorously” targeting anti-Corruption Bureau (ACB) advertisements in the country.
The ACB has said it would not issue advertisements in India until the government made the measures more transparent.