A former CEO of an Indian bank being asked by a close relative of a then ruling party politician to buy a “mediocre” painting for Rs 2 crore in exchange for the Padma Bhushan, the country’s third highest civilian recognition, has been cited by the Financial Action Task Force (FATF), a Paris-based intergovernmental watchdog on money laundering and terror financing, as a case study of a classical money laundering tool used by politically influential persons.