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India has a broadly effective legal regime in place against money launderers and terrorist financiers, the Financial Action Task Force concluded Thursday, but court delays prevent the nation from clamping down on them more fully. In a 368-page report on its three-week evaluation of the country last year, the intergovernmental group, also known as FATF, commended Indian authorities for understanding the specific illicit finance-related risks that threaten their country, collecting high-quality beneficial ownership information and using financial intelligence effectively. Financial crime-related threats in India, which has the world's largest population, largest diaspora and fifth-largest economy, range from bank fraud, investment...