Question

Q31) Consider the statements about Financial Action Task Force:

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

2. India is a member of this task force.

3.The mandate of the organisation includes stopping terrorist financing and money laundering.

Which of the above statements is/are correct?

• A. a) 1 only
• B. b) 2 and 3 only
• C. c) 1 and 3 only
• D. d) All of the above

Answer 1

The correct option is D d) All of the above

Answer 31: D
Explanation: The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d'action
financière (GAFI), is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat
money laundering. In 2001 the purpose expanded to act on terrorism financing. It monitors countries' progress in implementing the
FATF Recommendations by ‘peer reviews’ (‘mutual evaluations’) of member countries. The FATF Secretariat is housed at the
headquarters of the OECD in Paris. India is a member.