8 Questions
Match the following with their description:
Financial Action Task Force (FATF) = Intergovernmental organization tackling financial economic crime worldwide Money laundering = Illegal activity concerning the international financial system G7 countries = Initiative to establish the FATF in July 1989 Arab Gulf Cooperation Council = One of the member organizations of the FATF
Match the following with their primary focus:
FATF = Combating money laundering and terrorist financing Environmental crime financing = Area where FATF helps authorities to counter Human rights violations = Another area where FATF helps to prevent financing Weapons of mass destruction = Type of financing that FATF aims to prevent
Match the following with their commitment:
More than 200 countries and jurisdictions = Committed to meeting FATF requirements G7 countries = Took the initiative to establish the FATF European Commission = One of the member organizations of the FATF United States = One of the G7 countries that established FATF
Match the following with their time of establishment:
Financial Action Task Force (FATF) = Created in July 1989 at a G7 summit European Commission = One of the member organizations of the FATF Arab Gulf Cooperation Council = Current member organization of the FATF United Kingdom = One of the G7 countries that established FATF
Match the following features of the Financial Action Task Force (FATF) with their descriptions:
Keeping an eye on the methods and trends of financial activities of criminals = Feature 1 Setting up global standards and guidelines = Feature 2 Assessing implementation of countries = Feature 3 Identifying high-risk countries regarding financial economic crime = Feature 4
Match the following entities with their role in combating financial economic crime:
Financial Intelligence Units = Partner of FATF United Nations = Partner of FATF European Union = Translate FATF recommendations into A.M.L directives Countries committed to FATF = Divided into different groups for risk assessments
Match the following terms with their meanings:
40 Recommendations = International standards for combating money laundering and terrorist financing AML Directives = Translated from FATF recommendations into national laws and regulations Grey or black country list = List of countries not implementing sufficient measures Observers in risk assessments = Supervise the assessment process between different groups
Match the following tasks related to FATF with their descriptions:
Develop international standards and guidelines = Formulate the '40 Recommendations' Translate guidelines into national laws and regulations = Responsibility of countries committed to FATF Conduct risk assessments together in groups = More than 200 countries and organizations participating in FATF Identify high-risk countries and jurisdictions = Grey or black country list for non-compliance
Learn about the Financial Action Task Force (FATF), an intergovernmental organization dedicated to combatting financial economic crime globally. Understand how more than 200 countries and jurisdictions have committed to meeting FATF requirements in order to prevent illicit financing and how FATF focuses on combating money laundering, terrorist financing, and preventing the financing of weapons of mass destruction.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
