Answer-Consider the following statements about Financial Act Task Force (FATF)-: I. It established during t...

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Financial Act Task Force FATF Statement I is correct -  It is an inter-governmental body that was established in 1989 during the G7 Summit in Paris in 1989. Statement II is correct -  The FATF revises the blacklist regularly, adding or deleting entries. In 2022, Iran and the Democratic Peoples Republic of Korea DPRK are under High-risk Jurisdiction or black list. Statement III correct - It is an inter-governmental policymaking body. It assesses the strength of a countrys anti-money laundering and anti-terror financing frameworks, however, it does not go by individual cases. Its Secretariat is located at the Organisation for Economic Cooperation and Development OECD headquarters in Paris. The FATF currently has 39 members including two regional organisations - the European Commission and Gulf Cooperation Council. India is a member of the FATF. Lists under FATF Grey List Countries that are considered safe haven for supporting terror funding and money laundering are put in the FATF grey list. This inclusion serves as a warning to the country that it may enter the blacklist. Black List Countries known as Non-Cooperative Countries or Territories NCCTs are put in the blacklist.

Consider the following statements about Financial Act Task Force (FAT

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