BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1978
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2000
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2010
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1994
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Detailed explanation-1: -Since the assessment of the effectiveness of Australia’s measures to combat money laundering and terrorist financing, the country has been in an enhanced follow-up process. The country reported back to the FATF in 2018 on the actions it had taken to strengthen its AML/CFT framework.
Detailed explanation-2: -India joined UNTOC in 2002 and ratified it in 2011.
Detailed explanation-3: -The FATF blacklist, a list of countries where the group deems businesses and financial institutions are at high risk of exposure to money laundering and terrorist financing, currently includes three countries: North Korea, Iran and Myanmar.
Detailed explanation-4: -Financial Action Task Force (FATF) is an inter-governmental body, responsible for setting global standards on anti-money laundering (AML) and combating the financing of terrorism (CFT). India became Observer at FATF in the year 2006.