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Pakistan to Remain on FATF ‘Grey List ’

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

In news:

Financial Action Task Force (FATF) has decided to keep Pakistan on its terrorism financing “grey list”.

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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