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Pakistan to Remain on FATF ‘Grey List ’

  • IASbaba
  • March 2, 2021
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Pakistan to Remain on FATF ‘Grey List ’

Part of: GS Prelims and GS-II- International Relations

In news:

Key takeaways 

  • 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.

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FATF decides to keep Pakistan on its grey list

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