UPSC Articles
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.
