← 1 November 2026's Current Affairs · International Relations GA Prelims ★★★☆☆ Mains ★★★☆☆
FATF concludes first plenary under UK President Giles Thomson in Paris
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A 40-nation watchdog with no police powers: how FATF grey-listing works, a GS2 and GS3 favourite
FATF plenary in Paris steps up action on virtual-asset crime and scam compounds.
Why it matters: general awareness
What you need to know
2 મિનિટ
The Financial Action Task Force concluded its first Plenary under UK President Giles Thomson in Paris on 30 October 2026, after meetings from 28 to 30 October.
The plenary stepped up action on virtual-asset crime and scam compounds.
સ્રોત: Topper IAS editorial (PIB / The Hindu / Indian Express)
મુખ્ય તથ્યો
Remember these
- FATF concluded its first Plenary under UK President Giles Thomson in Paris on 30 October 2026 (meetings 28-30 October)
- The plenary stepped up action on virtual-asset crime and scam compounds
- FATF is an inter-governmental body set up in 1989 by the G7; its secretariat is hosted at the OECD in Paris
- FATF sets global standards (40 Recommendations) against money laundering, terror financing and proliferation financing
- India has been a FATF member since 2010; countries are placed on the 'grey list' (increased monitoring) or 'black list' (call for action)
પ્રિલિમ્સ · મેઇન્સ
How the exam will ask it
પ્રિલિમ્સ
- The Financial Action Task Force is an inter-governmental policy-making body that sets standards to combat money laundering and terror financing.
- FATF has its secretariat at the OECD headquarters in Paris, and its Plenary is its decision-making body.
- Jurisdictions under 'increased monitoring' are popularly called the grey list, while 'high-risk jurisdictions subject to a call for action' form the black list.
- FATF standards extend to virtual assets and virtual asset service providers (VASPs), including the 'travel rule'.
મેઇન્સ
GS2 (international institutions) and GS3 (money laundering, internal security). Virtual assets and scam compounds enable cross-border fraud and terror financing that national laws alone cannot contain, and FATF's standards, mutual evaluations and listing pressure shape domestic regimes such as India's PMLA and VDA rules. The way forward is stronger VASP regulation, travel-rule compliance, FIU-to-FIU intelligence sharing and regional cooperation against scam hubs.
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