Q. Consider the following statements regarding the Financial Action Task Force (FATF):
1.FATF was established by the G20 in 1989 to combat terrorist financing.
2.India is a member of FATF.
3.The Secretariat of FATF is located in Geneva under the World Bank.
Which of the above statements is/are correct?

[A] 2 only

[B] 1 and 3 only

[C] 2 and 3 only

[D] 1, 2, and 3

Answer: A
Notes:

Explanation:

  • Statement 1 is incorrect: FATF was established by the G7 in 1989 to combat money laundering. The mandate was expanded to include terrorist financing in 2001.
  • Statement 2 is correct: India became a member in 2010.
  • Statement 3 is incorrect: The Secretariat is located at the OECD Headquarters in Paris, not in Geneva and not under the World Bank.

Source- AIR

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