Updated By: LatestGKGS Desk
The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions.
FATF was formed during the G7 Summit in Paris (France), the organisation aims to establish international standards for combating money laundering and terrorist financing and seeks to combat the growing problem of money laundering.
FATF Secretariat is housed at the headquarters of the Organisation for Economic Co-operation and Development (OECD) in Paris.
FATF's decision-making body is the 'FATF Plenary'. The FATF plenary sessions are held in February, June, and October every year.
FATF consists of over 39 member countries including India. Currently, China is the Vice President of the FATF.
Set international standards to combat money laundering and terrorist financing. Assess and monitor compliance with the FATF standards.
Assess and monitor compliance with the FATF standards.
Conduct studies of money laundering and terrorist financing methods, trends and techniques.
Respond to new and emerging threats, such as proliferation financing used for promoting proliferation of nuclear, chemical and biological weapons.
Headquarters: Paris, France
Purpose: Combat money laundering and terrorism financing
President: Santiago Otamendi (Argentina)
Vice-President: Jennifer Fowler (USA)
FATF retains Pakistan on Grey List, warns of action after Fe...
FATF Asia Pacific Group Puts Pakistan On Enhanced Blacklist:...
Latest Daily Current Affairs GK GS Bulletins 1. Nation...
FATF Placed Pakistan On Grey List for Financially Helping Te...
Financial Action Task Force (FATF) Puts Pakistan on Grey lis...