Q. Consider the following statements regarding Financial Action Task Force (FATF):
1.It is an intergovernmental body that deals with policies to combat money laundering and terrorist financing.
2.It is a specialized agency of the United Nationals, formed under the aegis of the UN Economic and Social Council.
Which of the statements given above is/are correct?
Answer: A
Notes:
The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 on the initiative of the G7. The FATF Secretariat is housed at the OECD headquarters in Paris. It is a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in various areas. It is not a specialized agency of the UN.
