Consider the following statements with respect to Financial Action Task Force FATF It is an inter go...........

Economic Affairs Financial Institutions

Consider the following statements with respect to Financial Action Task Force (FATF)

It is an inter-governmental body that works to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering.
The FATF's decision making body, the FATF Plenary, meets three times per year.
The FATF Secretariat is located at the OECD headquarters in Paris.

Which of the statement(s) given above is/are correct?

1&2 only

2&3 only

1&3 only

All of the above

Recently, Pakistan retained on ‘grey list’ and Iran in ‘black list’ of FATF.

A country is put on the grey list when it fails to curb terrorism financing and money laundering.
A country on a blacklist means shutting all doors to international finance for that country.
FATF is an Inter-governmental body established in 1989 during the G7 Summit. It works to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
Its Secretariat is located at the Organisation for Economic Cooperation and Development (OECD) headquarters in Paris.
The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
The FATF's decision making body, the FATF Plenary, meets three times per year.