Consider the following statements about Financial Action Task Force FATF It is an inter governmental...........

International Affairs International Institutions

Consider the following statements about Financial Action Task Force (FATF)

It is an inter-governmental body established in 1989 on the initiative of the Organisation for Economic Co-operation and Development (OECD).
Initially it was established to examine and develop measures to combat terrorist financing.

Select the correct statement.

1 only

2 only

Both

None

Both statements are incorrect.

The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 on the initiative of the G7.
Initially it was established to examine and develop measures to combat money laundering.
In October 2001, the FATF expanded its mandate to incorporate efforts to combat terrorist financing, in addition to money laundering.
In April 2012, it added efforts to counter the financing of proliferation of weapons of mass destruction.

Hence option 4th is correct.

Report error

Submit Error