Current Affairs

Sri Lanka removed from FATF's Grey List

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
Sri Lanka removed from FATF's Grey List Sri Lanka removed from FATF's Grey List Reviewed by Neha Verma on October 22, 2019 Rating: 5

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