On what date FATF published guidelines?
The FATF originally published this Guidance in June 2019 when the FATF finalised changes to its Standards to clearly place anti-money laundering and countering the financing of terrorism (AML/CFT) obligations on VAs and VASPs.
What year were the FATF 40 recommendations issued?
1990
The FATF’s main policies center around their Forty Recommendations on Money Laundering (1990) and the Nine Special Recommendations on Terrorism Funding in 2001.
What are the 40 recommendations?
The 40 Recommendations provide a complete set of counter-measures against money laundering (ML)covering the criminal justice system and law enforcement, the financial system and its regulation, and international co-operation. They have been recognised, endorsed, or adopted by many international bodies.
On what date FATF publishes guidance on proliferation financing risk assessment and mitigation?
The FATF adopted the present Guidance in June 2021.
Which of the following two countries were removed from the GREY list in October 2021?
Paris [France], October 22 (ANI): The global anti-terror watchdog – Financial Action Task Force (FATF)– on Thursday announced that it is removing Mauritius and Botswana from its ‘grey list’, while retaining Pakistan in the increased monitoring list as the country needs more improvement.
What is FATF history?
The Financial Action Task Force (FATF) was established in July 1989 by a Group of Seven (G-7) Summit in Paris, initially to examine and develop measures to combat money laundering. Click here to see the Economic Declaration from that G-7 Summit.
What three of the following items did the 2012 revision to the FATF recommendations include?
Recommendation 1: Assessing risks and applying a risk-based approach.
Who developed the 40 recommendations?
the FATF
Non-Cooperative Countries and Territories process, and a number of national and international initiatives, led the FATF to review and revise the Forty Recommendations into a new comprehensive framework for combating money laundering and terrorist financing.
What are the FATF recommendations?
The FATF Recommendations are the internationally endorsed global standards against money laundering and terrorist financing: they increase transparency and enable countries to successfully take action against illicit use of their financial system.
What is proliferation financing FATF?
Proliferation financing is defined by the FATF as the provision of funds or financial services used for the manufacture, acquisition, possession, development, export, trans-shipment, brokering, transport, transfer, stockpiling or use of nuclear, chemical or biological weapons and their means of delivery and related …
How many countries in blacklist of FATF?
As of 2019, FATF has blacklisted North Korea and Iran over terror financing. Twelve countries are in the grey list, namely: Bahamas, Botswana, Cambodia, Ethiopia, Ghana, Pakistan, Panama, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.
Where is India in FATF list?
Background Information
- FATF Status. India is not currently on the FATF List of Countries that have been identified as having strategic AML deficiencies.
- Compliance with FATF Recommendations.
- US Department of State Money Laundering assessment (INCSR)