Task forces: Current Affairs, GK & News - 2020-2021
Saudi Arabia becomes first Arab country to get FATF membership
Published: June 28, 2019
Saudi Arabia has become the first Arab country to be granted full membership of Financial Action Task Force (FATF) following its Annual General Meeting at Orlando in Florida, USA. Since November 2004, Saudi Arabia has been a founding member of the Middle East and North Africa (MENA) arm of the FATF group. Its full FATF ..
Topics: Asia/Pacific Group on Money Laundering • Corporate crime • Crime • FATF blacklist • Financial Action Task Force on Money Laundering • Financial regulation • Money Laundering • OECD • Organizations • Task forces • Tax Evasion • Terrorism financing
Israel becomes a full member of Financial Action Task Force (FATF)
Published: December 13, 2018
Israel has recently become a full member of the Paris-based Financial Action Task Force (FATF), the global financial watchdog on money laundering, terror financing and other threats to the international financial system. The FATF is empowered to ensure that financing of UN-designated terrorist organisations is blocked. It has the power to publicly name countries not ..
Topics: Asia/Pacific Group on Money Laundering • Crime • FATF blacklist • Financial Action Task Force on Money Laundering • Financial regulation • Law • Law by country • Money Laundering • OECD • Task forces • Tax Evasion
Money Laundering: Meaning, Prevention and Laws
Published: December 11, 2013
Money laundering is the process by which large amounts of illegally obtained is given the appearance of having originated from a legitimate source. So basically, all the ways to convert the black money into white money are Money laundering. But in Money laundering, the black money must involve a predicate crime such as the violation of Indian Penal Code, ..
Topics: Asset forfeiture • Crime • Financial Action Task Force on Money Laundering • Financial regulation • Law • Law by country • Money Laundering • Prevention of Money Laundering Act • Task forces • Tax Evasion • Tax in India • Terrorism • Terrorism financing