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Mahesh

06/03/22 09:00 AM IST

FATF retains Pakistan on its terror funding ‘grey list’

In News 
  • The global money laundering and terrorist financing watchdog FATF has retained Pakistan on its terrorism financing “grey list” and asked Islamabad to address at the earliest the remaining deficiencies in its financial system.

Details 
  • Pakistan has been on the grey list of the Paris-based Financial Action Task Force (FATF) since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.
  • The FATF encouraged Pakistan to continue making progress to address, as soon as possible, the one remaining item by continuing to demonstrate that terror financing investigations and prosecutions target senior leaders and commanders of the U.N.-designated terrorist groups.
  • The plenary noted that since June 2018 — when Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its anti-money laundering/combating the financing of terrorism (AML/CFT) regime and to address its strategic counter–terrorist financing–related deficiencies — its continued political commitment had led to significant progress across a comprehensive CFT action plan.
About FATF 
  • The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
  • The FATF has 39 members including two regional organisations — the European Commission and the Gulf Cooperation Council.
  • India is a member of the FATF consultations and its Asia Pacific Group.
Source- The Hindu 

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