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Pakistan to remain FATF’s ‘Grey List’

  • IASbaba
  • February 19, 2020
  • 0
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Pakistan to remain FATF’s ‘Grey List’

In news:

  • The International Co-operation Review Group (ICRG) of the Financial Action Task Force (FATF) recommended that Pakistan be retained on the ‘Grey List’.
  • Pakistan was placed on the grey list by the FATF last year for failing to curb anti-terror financing

Why?

  • Due to it’s failure to completely implement the 27-point action plan to check terror financing

From Prelims Point Of View:

Financial Action Task Force (FATF)

  • Inter-governmental body established in 1989 on the initiative of the G7.
  • Secretariat is housed at the OECD headquarters in Paris.
  • Generate the necessary political will to bring about national legislative and regulatory reforms in various areas
  • to set standards and promote effective implementation of legal, regulatory and operational measures
  • Combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.

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