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With reference to ‘ Financial Action Task Force (FATF)’, consider the following statements:
  1. FATF is an inter-governmental body which develops policies against money laundering.
  2. India was taken in as the 34th country member of FATF in 2010.
Which of the above given statements is/ are not correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'D'. Can you explain this answer?
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With reference to ‘Financial Action Task Force (FATF)’, co...
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With reference to ‘Financial Action Task Force (FATF)’, co...
  • The Financial Action Task Force (FATF) is looking to revise its current recommendations aimed at safeguarding non-profit organisations (NPO) from being abused for terrorist financing.
  • Statement 1 is correct: FATF is an inter-governmental body decision-making body established in 1989 during the G7 Summit in Paris to develop policies against money laundering.
  • Statement 2 is correct: India became an Observer at FATF in 2006. Since then, it has been working towards full-fledged membership. On June 25, 2010 India was taken in as the 34th country member of FATF.
  • The FATF Secretariat is located in Paris.
  • The FATF Plenary is the decision making body of the FATF.
    • It meets three times per year.
  • FATF has 2 types of lists for classifying countries:  Black List and Grey List.
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With reference to ‘Financial Action Task Force (FATF)’, consider the following statements: FATF is an inter-governmental body which develops policies against money laundering. India was taken in as the 34th country member of FATF in 2010.Which of the above given statements is/ arenotcorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?
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With reference to ‘Financial Action Task Force (FATF)’, consider the following statements: FATF is an inter-governmental body which develops policies against money laundering. India was taken in as the 34th country member of FATF in 2010.Which of the above given statements is/ arenotcorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. 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 With reference to ‘Financial Action Task Force (FATF)’, consider the following statements: FATF is an inter-governmental body which develops policies against money laundering. India was taken in as the 34th country member of FATF in 2010.Which of the above given statements is/ arenotcorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to ‘Financial Action Task Force (FATF)’, consider the following statements: FATF is an inter-governmental body which develops policies against money laundering. India was taken in as the 34th country member of FATF in 2010.Which of the above given statements is/ arenotcorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.
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