Question

Q10. Consider the following statements about FATF:

1. FATF is an initiative of the G7 countries to combat money laundering.

2. The FATF Secretariat is housed at the headquarters of the OECD in Paris.

Which of the following statements are correct?

• A. a) 1 only
• B. a) 1 only
• C. c) Both 1 and 2
• D. c) Both 1 and 2

Answer 1

The correct option is C

c) Both 1 and 2

Financial Action Task Force (FATF)

It is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.

The FATF Secretariat is housed at the headquarters of the OECD in Paris.