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Financial action task Force > FATF > Flashcards

FATF Flashcards

1
Q

When was FATF set up

A

1989

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2
Q

Who set up FATF

A

G7

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3
Q

Objective of FATF

A

Compact money laundering

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4
Q

When was the second object of FATF added

A

After 9/11 2001

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5
Q

Second objective of FATF

A

to fight against state sponsored terrorism

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6
Q

When was g7 set up

A

1975

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7
Q

Strength of FATF

A

39

  • 37 counties
  • 2 organisations
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8
Q

The organisations present in FATF

A
  1. Gulf cooperation council

2. European Commission

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9
Q

When did india become a member of FATF

A

2010

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10
Q

When did india for observer status

A

2006

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11
Q

When was gulf cooperation council set up

A

1981

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12
Q

Number of members in gulf cooperation council

A

6

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13
Q

HQ of gulf cooperation council

A

Riyadh, Saudi Arabia

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14
Q

Which is the topmost decision Making body of FATF

A

FATF plenary

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15
Q

When did the FATF issued the set of recommendations for the 1st time

A

1990

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16
Q

How many recommendations did FATF issue In 1990

A

40

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17
Q

When did FATF issue the 2nd set of recommendations

A

1996

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18
Q

When did FATF issue a 9 point recommendations

A

After 9/11 in 2003-04

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19
Q

When was the recent recommendation issues by FATF

A

2012

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20
Q

Primitive measures of FATF

A
  1. Call for action / non cop ration countries ( black list )
  2. Increased monitored Jurisdiction ( Grey list )
21
Q

How many counties are in grey list

A

23 including turkey and Pakistan

22
Q

Restriction for grey list counties

A

Restriction on access to finance from global finance institution

23
Q

Countries on black list

A

North Korea and Iran

24
Q

Why is North Korea and Iran in black list

A

They both are involved in secret nuclear weapons

25
Q

When did North Korea withdrew from non proliferation of nuclear weapon treaty

A

2003

Iran is still a part of it

26
Q

Who is a constant violator is NPT

A

Iran

27
Q

NPT was signed in

A

1968

28
Q

Where was NPT signed

A

Geneva

29
Q

When did NPT came into force

A

1970

30
Q

Action plan for Pakistan

A

27 point action plan for Pakistan

Pakistan has full filed 26 points

27th point - support to anti terrorist

31
Q

Action plan for turkey

A

8 point action plan for turkey

32
Q

Who introduced the 8 point action plan for turkey

A

India’s external affair minister - Jaishankar

33
Q

Which UN resolution is related with terrorism

A

UN council resolution 1373

34
Q

When was UN council Resolution 1373 introduced

A

2001

35
Q

From which country india receives the maximum foreign development investments

A

Singapore

36
Q

Why was Mauritius in the grey last

A

Cause of money laundering

37
Q

When did the Prevention of money laundering act ,2002 came into force

A

1st July 2005

38
Q

Who is the implementing agency or money laundering prevention act

A

Enforcement Directorate

39
Q

When was Enforcement Directorate established

A

1956

40
Q

Enforcement Directorate comes under which ministry

A

Department of revenue , ministry of finance

41
Q

Enforcement department also monitors

A

Foreign exchange management act 1999

42
Q

When did G7 become G8

A

In 1988

43
Q

Which was the 8th country in G8

A

Russia

44
Q

HQ of fatf

A

Paris

45
Q

When did Russia leave G8

A

2013/14

46
Q

Why was Russia expelled from G8

A

Due to Russia’s annexation of Crimea

47
Q

When did india announce revocation of article 370 and 35A

A

On 5 Aug 2019

48
Q

When was JK reorganised

A

31st oct 2019

49
Q

When was battle of Gallipoli held

A

1915 and 1916

Financial action task Force (1 decks)

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