{"id":31070,"date":"2026-06-20T11:33:28","date_gmt":"2026-06-20T06:03:28","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=31070"},"modified":"2026-06-20T13:51:04","modified_gmt":"2026-06-20T08:21:04","slug":"financial-action-task-force","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/financial-action-task-force\/","title":{"rendered":"Financial Action Task Force"},"content":{"rendered":"<h2><b>Financial Action Task Force Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, India has been elected to the Vice-Presidency of the Financial Action Task Force (FATF) for the first time.<\/span><\/p>\n<h2><b>About Financial Action Task Force<\/b><\/h2>\n<ul>\n<li><span style=\"font-weight: 400;\">It is an <\/span><b>independent intergovernmental body<\/b><span style=\"font-weight: 400;\"> that develops and promotes policies to protect the <\/span><b>global financial system<\/b><span style=\"font-weight: 400;\"> against <\/span><b>money laundering and terrorist financing.<\/b><\/li>\n<li><b>Origin<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">It was established in <\/span><b>1989 during the G7 Summit in Paris<\/b><span style=\"font-weight: 400;\"> in response to a growing concern about money laundering.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">In 2001, its mandate expanded to include <\/span><b>terrorism financing.<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Headquarters:<\/b><span style=\"font-weight: 400;\"> Paris, France.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Members:<\/b><span style=\"font-weight: 400;\">FATF members include 40 countries, including the United States, India, China, Saudi Arabia, Britain, Germany, France, and the EU as such.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>India <\/b><span style=\"font-weight: 400;\">became a member of <\/span><b>FATF in 2010.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">In addition, over 200 jurisdictions around the world have committed to the FATF Recommendations through the global network of FSRBs and FATF memberships.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">FATF <\/span><b>regularly publishes reports<\/b><span style=\"font-weight: 400;\"> that raise awareness about the latest money laundering, terrorist financing, and proliferation financing techniques.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Once a member, a country or <\/span><b>organization must endorse and support the most recent FATF<\/b><span style=\"font-weight: 400;\"> recommendations and commit to being evaluated by (and evaluating) other members.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The FATF holds countries to account that do not comply with the FATF Standards.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If a country repeatedly fails to implement FATF Standards, then it <\/span><b>can be placed under the grey and black lists.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The FATF recommendations are recognised as the global <\/span><b>anti-money laundering<\/b><span style=\"font-weight: 400;\"> (AML) and <\/span><b>counter-terrorist financing (CFT) standard.<\/b><\/li>\n<\/ul>\n<p><b>Source: <\/b><strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2275528&amp;reg=48&amp;lang=1\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Action Task Force is an independent intergovernmental body that develops and promotes policies to protect the global financial system against money laundering.<\/p>\n","protected":false},"author":5,"featured_media":31071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3398],"class_list":["post-31070","post","type-post","status-publish","format-standard","has-post-thumbnail","category-upsc-prelims-current-affairs","tag-financial-action-task-force","no-featured-image-padding"],"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=31070"}],"version-history":[{"count":2,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31070\/revisions"}],"predecessor-version":[{"id":109038,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31070\/revisions\/109038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/31071"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=31070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=31070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=31070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}