FINANCIAL POLICIES: ROLE OF FINANCIAL ACTION TASK FORCE (FATF) IN FINANCIAL DISCIPLINE

Abstract

The regulation of finance, money and banking has been identified to be riskier as far as financial discipline is considered. Non-state actors (anti-social groups, terrorist institutions, black money keepers etc.) have been threatening the financial stability in major financial regime. For properly overseeing the financial transactions Financial Action Task Force has been established as an inter-governmental and multi-lateral body co-operating its member states to bring a check on the black money and ensuring financial discipline within their jurisdictional limits. This paper studies and presents the role of FATF on financial discipline thereby leading to transparent financial policies.