Which of the following statements is are correct regarding Financial Action Task Force FATF 1 It is ...........

International Affairs United Nations

Which of the following statements is/are correct regarding Financial Action Task Force (FATF)?

1. It is an inter-governmental body established in 1989.

2. The objectives of the FATF are to set standards and promote effective implementation measures for combating money laundering, terrorist financing.

3. It works under the agies of United Nations

Choose the correct answer using the codes below-

1 and 2 only

2 and 3 only

2 only

1, 2 and 3

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Explanation:

The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. 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.