Macro Economics
FATF | Financial Action Task Force
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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.
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