Loading...
Exampur

Connect Us

Examपुर Apps

exampur
exampur

FATF Ministerial Meeting in Washington D.C.

Tags: Economics/Business International News

Union Minister for Finance & Corporate Affairs Nirmala Sitharaman attended the FATF Ministerial Meeting in Washington D C on April 21, 2022.

  • The meeting was held simultaneously with the 2022 Spring Meeting of the World Bank Group and the International Monetary Fund (IMF).

  • The meeting focused on providing direction to the ministers, by supporting the strategic priorities of the FATF for the year 2022-24.

  • This meeting focussed on the following points –

* to ensure suitable funding for the delivery of the strategic priorities which.

*FATF systems of Mutual Evaluations

*Enhancing International Beneficial Ownership Transparency,

*Increasing Capabilities to more effectively recover Criminal assets,

*Leveraging Digital Transformation

  • India extended support on these strategic priorities and reiterated India’s commitment to provide resources and support to FATF.

  • FATF Ministers will meet again in 2024.

About  FATF

  • The Financial Action Task Force (FATF) is the global money laundering and terrorist financing protector. 

  • This inter-governmental body sets international standards which aim to prevent these types of illegal activities and the harm they cause to society. 

  • It works to produce the necessary political will to bring about national legislative and regulatory reforms in these areas.

  • With more than 200 countries and jurisdictions it is committed to implementing them. 

  • It was established in July 1989 by the G-7 Summit in Paris.

  • the FATF expanded its mandate In October 2001 to incorporate efforts for combat terrorist financing as well as  money laundering.

  • It added efforts to counter the financing of proliferation of weapons of mass destruction in April 2012.

Please Rate this article, so that we can improve the quality for you -

Search By Tags

Russia-Ukraine Sports National Economy/Finance International Relations Government Schemes Popular Defence Books and Authors Science and Technology Summits Economics/Business Awards Person in news State News Important Days Sports News International News National News
serablock login_ch-testwale