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Which of the following statements about the Financial Action Task Force (FATF), established in 1989 by G-7, is INCORRECT?
- a)It is an inter-governmental policy making body.
- b)Its mandate covers setting international standards for combating money laundering and terrorist financing.
- c)It does not deal with proliferation of weapons of mass destruction which are dealt by the UNSC and multi-lateral export control regimes.
- d)It works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.
Correct answer is option 'C'. Can you explain this answer?
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Which of the following statements about the Financial ActionTask Force...
Justification: Option B: 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.
Option C: The FATF has developed a series of Recommendations that are
recognised as the international standard for combating of money
laundering and the financing of terrorism and proliferation of weapons of
mass destruction
Option D: The FATF monitors the progress of its members in implementing
necessary measures, reviews money laundering and terrorist financing
techniques and counter-measures, and promotes the adoption and
implementation of appropriate measures globally.
• In collaboration with other international stakeholders, the FATF
works to identify national-level vulnerabilities with the aim of
protecting the international financial system from misuse.
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.
Option C: The FATF has developed a series of Recommendations that are
recognised as the international standard for combating of money
laundering and the financing of terrorism and proliferation of weapons of
mass destruction
Option D: The FATF monitors the progress of its members in implementing
necessary measures, reviews money laundering and terrorist financing
techniques and counter-measures, and promotes the adoption and
implementation of appropriate measures globally.
• In collaboration with other international stakeholders, the FATF
works to identify national-level vulnerabilities with the aim of
protecting the international financial system from misuse.
• The FATF's decision making body, the FATF Plenary, meets three
times per year.
times per year.
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Which of the following statements about the Financial ActionTask Force...
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Which of the following statements about the Financial ActionTask Force (FATF), established in 1989 by G-7, is INCORRECT?a)It is an inter-governmental policy making body.b)Its mandate covers setting international standards for combatingmoney laundering and terrorist financing.c)It does not deal with proliferation of weapons of mass destructionwhich are dealt by the UNSC and multi-lateral export control regimes.d)It works to identify national-level vulnerabilities with the aim ofprotecting the international financial system from misuse.Correct answer is option 'C'. Can you explain this answer?
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Which of the following statements about the Financial ActionTask Force (FATF), established in 1989 by G-7, is INCORRECT?a)It is an inter-governmental policy making body.b)Its mandate covers setting international standards for combatingmoney laundering and terrorist financing.c)It does not deal with proliferation of weapons of mass destructionwhich are dealt by the UNSC and multi-lateral export control regimes.d)It works to identify national-level vulnerabilities with the aim ofprotecting the international financial system from misuse.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following statements about the Financial ActionTask Force (FATF), established in 1989 by G-7, is INCORRECT?a)It is an inter-governmental policy making body.b)Its mandate covers setting international standards for combatingmoney laundering and terrorist financing.c)It does not deal with proliferation of weapons of mass destructionwhich are dealt by the UNSC and multi-lateral export control regimes.d)It works to identify national-level vulnerabilities with the aim ofprotecting the international financial system from misuse.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements about the Financial ActionTask Force (FATF), established in 1989 by G-7, is INCORRECT?a)It is an inter-governmental policy making body.b)Its mandate covers setting international standards for combatingmoney laundering and terrorist financing.c)It does not deal with proliferation of weapons of mass destructionwhich are dealt by the UNSC and multi-lateral export control regimes.d)It works to identify national-level vulnerabilities with the aim ofprotecting the international financial system from misuse.Correct answer is option 'C'. Can you explain this answer?.
Which of the following statements about the Financial ActionTask Force (FATF), established in 1989 by G-7, is INCORRECT?a)It is an inter-governmental policy making body.b)Its mandate covers setting international standards for combatingmoney laundering and terrorist financing.c)It does not deal with proliferation of weapons of mass destructionwhich are dealt by the UNSC and multi-lateral export control regimes.d)It works to identify national-level vulnerabilities with the aim ofprotecting the international financial system from misuse.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following statements about the Financial ActionTask Force (FATF), established in 1989 by G-7, is INCORRECT?a)It is an inter-governmental policy making body.b)Its mandate covers setting international standards for combatingmoney laundering and terrorist financing.c)It does not deal with proliferation of weapons of mass destructionwhich are dealt by the UNSC and multi-lateral export control regimes.d)It works to identify national-level vulnerabilities with the aim ofprotecting the international financial system from misuse.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements about the Financial ActionTask Force (FATF), established in 1989 by G-7, is INCORRECT?a)It is an inter-governmental policy making body.b)Its mandate covers setting international standards for combatingmoney laundering and terrorist financing.c)It does not deal with proliferation of weapons of mass destructionwhich are dealt by the UNSC and multi-lateral export control regimes.d)It works to identify national-level vulnerabilities with the aim ofprotecting the international financial system from misuse.Correct answer is option 'C'. Can you explain this answer?.
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