FATF | Financial Action Task Force | Economics lectures zea tutor

Macro Economics   

FATF | Financial Action Task Force

Economics lectures zea tutor

FATF | Financial Action Task Force | Economics lectures zea tutor

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FATF | Financial Action Task Force | Economics lectures

FATF in an institute that observes the countries of the world to make sure that no country in involved in illicit usage of money. The full form of FATF is Financial Action Task Force. It makes assured that no country must involve in funding the terrorists and money laundering. It recommends putting the county in grey list or even in black list as the case may be, if the country is funding such banned organization or indulges in money laundering.

The institute has set almost 40 recommendations for this purpose. Each country is supposed to act upon these recommendations otherwise it must ready to face consequences. There are 39 regular members and 20 observers of this body at present.