Financial Action Task Force (FATF): Grills Pakistan

Financial Action Task Force (FATF): Grills Pakistan

In News

• FATF has asked Pakistan more questions on the action it has taken against madrassas run by proscribed outfits.
• The FATF has kept Pakistan on the Grey List until February 2020 and warned that it would be put to black list (along with Iran & North Korea) if it did not take requisite actions.
• FATF is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering. 
• Its objective is to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system