Q. Financial Action Task Force (FATF), recently seen in the news, was established in which year?
Answer:
1989
Notes: The Financial Action Task Force (FATF) commended India for achieving high technical compliance with its recommendations to combat illicit finance. FATF is an intergovernmental body focused on fighting money laundering and terrorist financing. Its objective is to set international standards and promote effective policies at national and international levels. It was established in 1989 during the G7 Summit in Paris. FATF expanded its mandate to include terrorism financing in 2001. It includes 39 member countries, such as the US, India, China, and several European nations. India joined FATF in 2010.