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 ..

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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 ..

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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, ..

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