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.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2026 · Q20 · GS III · 15 marks
Discuss counterfeit currency and money laundering as major sources of terror funding in India. State the actions being taken at International level to check these menaces. Highlight the role of Financial Action Task Force (FATF) and methods of compliance by its member states in preventing terror funding. -
2021 · Q9 · GS III · 10 marks
Discuss how emerging technologies and globalisation contribute to money laundering. Elaborate measures to tackle the problem of money laundering both at national and international levels. -
2018 · Q20 · GS III · 15 marks
India's proximity to two of the world's biggest illicit opium-growing states has enhanced her internal security concerns. Explain the linkages between drug trafficking and other illicit activities such as gunrunning, money laundering and human trafficking. What countermeasures should be taken to prevent the same? (250 Words, 15 Marks). -
2024 · Q48 · General Studies · 2 marks
Which one of the following words/phrases is most appropriately used to denote "an interoperable network of 3D virtual worlds that can be accessed simultaneously by millions of users, who can exert property rights over virtual items"? -
2023 · Q16 · GS III · 15 marks
What is the main task of India's third mood mission which could not be achieved in its earlier mission? List the countries that have achieved this task. Introduce the subsystems in the spacecraft launched and explain the role of the 'Virtual Launch Control Centre' at the Vikram Sarabhai Space Centre which contributed to the successful launch from Sriharikota.