10-Jul-2025
The Financial Action Task Force (FATF)
Miscellaneous
Why in News?
The Financial Action Task Force (FATF) has, for the first time, included a section on state-sponsored terrorism in its July 2025 report, reinforcing India’s stance against Pakistan’s role in terror financing.
About FATF (Financial Action Task Force)
- FATF is an intergovernmental body that sets global standards to prevent money laundering and terrorist financing.
- It was established in 1989 at the G7 Summit in Paris.
- In 2001, its mandate was expanded to include counter-terrorism financing.
- Headquarters: Paris, France.
Objectives of FATF
- To set and promote international standards to combat money laundering and terror financing.
- To ensure countries take effective action against financial crimes.
Membership
- 39 members including India, USA, UK, France, China, and the EU.
- Over 180 countries are connected via FATF-style regional bodies (FSRBs).
- India became a member in 2010 and also belongs to,
- Asia Pacific Group (APG)
- Eurasian Group (EAG)
FATF Grey List and Blacklist
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Preparing Through MCQ
Q. Where is the headquarters of the Financial Action Task Force (FATF) located?
(1) Geneva, Switzerland
(2) Paris, France
(3) New York, USA
(4) Brussels, Belgium
Answer: (2) Paris, France