Pakistan to Remain on FATF ‘Grey List ’
Part of: GS Prelims and GS-II- International Relations
- Financial Action Task Force (FATF) has decided to keep Pakistan on its terrorism financing “grey list”.
- Pakistan must demonstrate in taking action against UN-designated terrorists and their associates to get removed from the grey list.
- Once Pakistan completes three unfulfilled tasks, decision will be taken on its present status in June.
- Pakistan has failed to fulfil six out of 27 obligations of the FATF.
Important value additions
- The FATF is an inter-governmental body set up in 1989.
- Objective: To combat money laundering, terror financing and other related threats to the international financial system.
- Currently, it has 39 members.
- Pakistan has been on the grey list since June 2018.