India calls for increased cooperation between FATF and UN

To deal with the nexus of terrorist groups India called for increased cooperation between the United Nations (UN) and the Financial Action Task Force (FATF). Speaking at the General Assembly the first Secretary to India’s Permanent Mission said that the activities of terror groups Boko Haram, ISIL, AI Shabab has increased in recent days. In these situations, UN should cooperate with other bodies like FATF to prevent terrorism.

FATF

The Paris based FATF – Financial Action Task Force is an international organization developed to combat terrorism and money laundering. The objectives of the FATF are to set standards, regulate and combat money laundering. It is basically a policy making body. It works to bring about national legislation and regulatory reforms.

It meets thrice in year. It was formed in 1989 at the G – 7 Summit, Paris. Initially it was formed to combat money laundering. Later in 2001, it expanded towards terrorism

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