FATF Current Affairs, GK & News

FATF

FATF is Financial Action Task Force. It is an inter-governmental organization. It was established in 1989 at the G7 summit held in Paris. About FATF The FATF was established to set standards and operations to combat terrorist financing and money laundering. It is a policy making body. It monitors the activities of its member countries ..

..Read More

UAE in FATF Grey List

On 4th March 2022, Financial Action Task Force (FATF) has included United Arab Emirates (UAE) in its grey list. About FATF FATF is an inter-governmental body established by the G7 countries in 1989. It is mainly a policy-making body and its mandate is to promote reforms in a country’s financial system to combat money-laundering and ..

Month: 

Category: 

Topics: 

India’s Eight Point Action Plan to UNSC to combat terrorism

The External Affairs Minister Dr S Jaishankar recently addressed the United Nations Security Council open debate. During his address, the minister proposed eight-point action plan. What is the eight-point action plan proposed by India? All the member nations should fulfil their obligations in international counter-terrorism conventions and instruments. The countries should not bring in double ..

Month: 

Category: 

Topics: 

Turkey’s New bill to monitor civil society groups

The Turkish Parliament recently passed the act called “Preventing Financing of Proliferation of Weapons of Mass Destruction”. The bill would increase the monitoring of civil society groups. About the Bill The bill was passed following the 2019 report on Turkey prepared by the Intergovernmental body Financial Action Task Force (FATF). The FATF fights money laundering ..

Month: 

Category: 

Topics: 

BRICS countries adopt Counter Terrorism Strategy

On November 17, 2020, during the 12th BRICS Summit, the members adopted counter terrorism strategy. The main objective of the strategy is to deal with terrorism. Key Highlights The Counter Terrorism Strategy is based on the following principles Respect sovereignty of participating countries Commit to international laws Recognize coordinating role of the United Nations Consider ..

Month: 

Category: 

Topics: 

FATF: Pakistan to remain on “Grey List”

On October 24, 2020, the Financial Action Task Force voted for Pakistan to remain under “grey list” of the organisation. The decision was taken as Pakistan failed to comply with all the 27 parameters set by the FATF. It has completed only 21. Earlier, the asia-pacific group of FATF submitted a report titled “Follow up ..

Month: 

Category: 

Topics: 

RBI bans FDI establishments from Mauritius-Reasons, Causes, Impacts

The Reserve Bank of India recently said that companies cannot set up Foreign Direct Investment from Mauritius. The apex bank has also banned FDI from jurisdictions similar to Mauritius as they do not comply with the norms set by Financial Action Task Force (FATF). Highlights Mauritius was recently listed in grey list of the FATF. ..

Month: 

Category: 

Topics: