Multiple choice

Which of the following statements is/are true?

  1. The Financial Action Task Force (on Money Laundering) (FATF) is an intergovernmental organization founded in 1989 on the initiative of the G7.
  2. The purpose of the FATF is to develop policies to combat money laundering and terrorism financing.
  3. The FATF Secretariat is housed at Geneva.

  1. Only 1 and 2

  2. Only 2

  3. Only 2 and 3

  4. All of these
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A Correct answer
Explanation

The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organization founded in 1989 on the initiative of the G7. The purpose of the FATF is to develop policies to combat money laundering and terrorism financing. The FATF Secretariat is housed at the headquarters of OECD in Paris.

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