Financial Action Task Force (FATF)

What was the original primary mandate of the FATF upon its establishment in 1989?

MCQ

MCQ Answer

A. Combating the financing of terrorism.

B. Combating money laundering. Correct

Explanation

The mandate was expanded in 2001 to include combating terrorist financing (CTF) following the September 11 attacks.

C. Regulating the global banking system.

D. Setting accounting standards.

Correct Answer

Combating money laundering.

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