world_organizations hard MCQ

The Financial Action Task Force (FATF) is an intergovernmental organization founded in 1989 on the initiative of which group?

  1. UN Security Council
  2. G7
  3. BRICS
  4. Commonwealth

Answer: G7

FATF was established in 1989 by the G7 to develop policies to combat money laundering. Its mandate was expanded in 2001 to include terrorist financing. It sets international standards and promotes effective implementation of legal, regulatory, and operational measures.

Topic Financial Action Task Force
Exam Relevance Banking, UPSC, SSC
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