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Q15 · UPPSC current affairs · 9 September 2026 · News · FATF Report Digital Hawala Virtual Assets Money Laundering

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English हिंदी

Consider the following statements regarding the Financial Action Task Force (FATF):1.FATF sets international anti-money laundering (AML) and counter-terrorist financing (CFT) standards.2.The monitoring of Virtual Asset Service Provider (VASP) compliance is strictly outside the mandate of FATF 40 Recommendations.Which of the statements given above is/are correct?

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A 1 only
B 2 only
C Both 1 and 2
D Neither 1 nor 2

Correct answer: (a) 1 only

Explanation

Statement 1 is correct because FATF sets international AML/CFT standards. Statement 2 is incorrect because FATF explicitly monitors VASP compliance under its 40 Recommendations.

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