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Sri Lanka removed from FATF's Grey List

Published on October 22, 2019
Current context: Srilanka has been removed from the Financial Action Task Force's grey list at the five-day plenary concluded in Paris.
Sri Lanka removed from FATF's Grey List 
  • FATF has taken the decision due to new measures taken by the country on financial security against money laundering.
  • Srilanka was included in the blacklist for the first time in 2011.
  • By 2016, the country took several measures to ensure the financial security and was declared a cooperating state in 2016.
  • Following its measures, Sri Lanka was put on a grey list from November 2017.
  • It then brought a framework to enhance the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) standard.
  • In the same meeting, FATF warned Pakistan to control terror funding and avoid getting blacklisted.
  • The FATF was established in 1989, is an inter-governmental body to combat terror financing, money laundering and related financial and cybercrimes.

Question: 

Q.1 Which country was recently removed from the Financial Action Task Force's grey list at the five-day plenary concluded in Paris?
a. Bangladesh
b. Sri Lanka
c. Iran
d. Pakistan
e. Turkey
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