1
Question
Which country has been elected as the vice-president of the Financial Action Task Force (FATF)? [Feb 2018]
Which country has been elected as the vice-president of the Financial Action Task Force (FATF)? [Feb 2018]
Open in App
Solution
The correct option is B China
China has been elected as the vice-president of the Financial Action Task Force (FATF) at the plenary meeting in Paris on February 23, 2018. In its plenary meeting, the FATF placed Pakistan under grey list to monitoring in its International Cooperation Review Group until June 2018 for compliance of Anti-Money Laundering and Combating Finance of Terrorism regulations. It gave Islamabad time till June 2018 to prepare an action plan against terror groups operating from Pakistan. The FATF was set up in 1989 with the primary goal of setting standards to combat money laundering, but in 2001 its mandate was expanded to include countering terror financing. It can take action such as financial restrictions against any country.
China has been elected as the vice-president of the Financial Action Task Force (FATF) at the plenary meeting in Paris on February 23, 2018. In its plenary meeting, the FATF placed Pakistan under grey list to monitoring in its International Cooperation Review Group until June 2018 for compliance of Anti-Money Laundering and Combating Finance of Terrorism regulations. It gave Islamabad time till June 2018 to prepare an action plan against terror groups operating from Pakistan. The FATF was set up in 1989 with the primary goal of setting standards to combat money laundering, but in 2001 its mandate was expanded to include countering terror financing. It can take action such as financial restrictions against any country.
Suggest Corrections
0
Similar questions
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
