FATF’s Asia Pacific Group keeps Pakistan in the enhanced follow up list

News: Asia-Pacific Group (APG) on Money Laundering has retained Pakistan on its ‘Enhanced Follow-Up’ list.This was the first Follow-Up Report on Mutual Evaluation of Pakistan released by the Asia-Pacific Group (APG). Facts: What is Mutual Evaluation Report: It is a peer-review system to determine whether countries meet the compliance standards for money laundering and terror… Continue reading FATF’s Asia Pacific Group keeps Pakistan in the enhanced follow up list

Illegal wildlife trade a global threat: FATF report

News: Financial Action Task Force(FATF) has released a report titled “Money Laundering and the Illegal Wildlife Trade” report. Facts: This is the first ever report of the Financial Action Task Force(FATF) on Illegal Wildlife Trade(IWT). Aim: To provide guidance to countries on measures they can take to combat money laundering from the illegal wildlife trade.… Continue reading Illegal wildlife trade a global threat: FATF report

Indian officials attend virtual EAG plenary meet

News: Indian officials have attended the virtual 32nd plenary meeting of Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG). Facts: EAG: It is a regional body established in 2004.Currently,it is an associate member of the Financial Action Task Force(FATF).  Members: It comprises nine countries namely India, Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan,… Continue reading Indian officials attend virtual EAG plenary meet

Pakistan to continue in FATF Grey List

News:The International Co-operation Review Group(ICRG) of the Financial Action Task Force(FATF) has recommended that Pakistan be retained on the Grey List given its failure to completely implement the 27-point action plan to check terror financing. Facts: FATF and Pakistan: In 2018,Pakistan was placed on the grey list by the FATF and was given a 27-point… Continue reading Pakistan to continue in FATF Grey List

Sri Lanka removed from FATF’s Grey List: Report

News:Sri Lanka has been removed from ‘Grey List’ of Financial Action Task Force(FATF). Facts: Why was Sri Lanka removed? Sri Lanka was removed following the measures taken by the country on financial security When was Sri Lanka added? Sri Lanka was first included in the FATF’s blacklist in 2011 and by 2012 it was listed… Continue reading Sri Lanka removed from FATF’s Grey List: Report

Pakistan to remain in FATF’s ‘Grey List’ till February 2020: Reports

News:The Financial Action Task Force (FATF) has decided to keep Pakistan on its grey list till February 2020. Facts: Pakistan and FATF: In June 2018,Financial Action Task Force(FATF) had greylisted Pakistan for failing to curb anti-terror financing. FATF had given 15 months to Pakistan to complete implementation of a 27-point action plan failing which it… Continue reading Pakistan to remain in FATF’s ‘Grey List’ till February 2020: Reports

PM pushes to strengthen FATF

News:On the sidelines of the 74th UN General Assembly session,Indian Prime minister attended the Dialogue on Strategic Responses to Terrorist and Violent Extremist Narratives. Facts: The dialogue was organised by Jordan, France and New Zealand and attended by leaders of about 24 countries but did not include either China or Pakistan. Addressing the session,Indian Prime… Continue reading PM pushes to strengthen FATF

Terror funding watchdog FATF Asia-Pacific Group ‘blacklists’ Pakistan

Asia Pacific group(APG) has placed Pakistan on its Blacklist for its failure in meeting the required global standards and combating terrorism and money laundering.  Pakistan was non-compliant in 32 of the 40 Compliance Parameters on Money Laundering & Terror Financing and was low in 10 of the 11 Effectiveness Parameters. In June 2018,Financial Action Task… Continue reading Terror funding watchdog FATF Asia-Pacific Group ‘blacklists’ Pakistan

FATF Asia-Pacific Group may blacklist Pakistan

The Asia Pacific Group(APG) may put Pakistan on an enhanced blacklist as the country has failed to meet global standards on money laundering and terror financing. In June 2018,Financial Action Task Force(FATF) had already greylisted Pakistan for failing to curb anti-terror financing. However,the two processes are separate as APG blacklisting status would impair Pakistan’s chances… Continue reading FATF Asia-Pacific Group may blacklist Pakistan

Pakistan submits compliance report to FATF

Pakistan has submitted compliance report on its 27-point action plan to the Financial Action Task Force(FATF). This action plan comes in the backdrop of Pakistan being grey listed by FATF.The greylisting meant downgrading of the country by institutions like IMF, World Bank and also reduction in risk rating by Moody’s and Fitch. Further,the Asia-Pacific Group(APG)… Continue reading Pakistan submits compliance report to FATF

Blacklisting Pakistan absolutely a possibility:FATF president

The Financial Action Task Force(FATF) has said that Pakistan could be put on the watchdog’s blacklist if the country fails to fulfill its anti terror action plan. FATF President said that Pakistan has already missed two deadlines and decision in this regard would be taken in October 2019 where Pakistan will be assessed on the… Continue reading Blacklisting Pakistan absolutely a possibility:FATF president

India rejects Pakistan’s charge of politicising FATF

India has rejected Pakistan’s allegation that it had tried to politicise deliberations at the Financial Action Task Force(FATF) which concluded its plenary with more criticism against Pakistan. Recently,FATF had warned Pakistan that the country could be blacklisted unless it fulfils an action plan against UN-designated terrorists operating in Pakistan by October,2019. A blacklist entry for… Continue reading India rejects Pakistan’s charge of politicising FATF

Time running out to curb terror, Pak. told

India has said that it expects Pakistan to implement steps agreed with the international Financial Action Task Force(FATF) to eliminate funding to terrorist groups operating from its soil. This statement came after FATF has warned Pakistan that the country could be blacklisted unless it fulfils an action plan against UN-designated terrorists operating in Pakistan by… Continue reading Time running out to curb terror, Pak. told

FATF warns Pakistan, but keeps it off the blacklist

Pakistan has managed to avoid being placed on the Financial Action Task Force(FATF) blacklist following support from China,Turkey and Malaysia. The FATF charter mandates support of at least three member states to avoid the blacklisting.However,FATF has said that Pakistan will be blacklisted if it fails to complete its action plan by October 2019. Once a… Continue reading FATF warns Pakistan, but keeps it off the blacklist

Black or grey: What next for Pakistan at FATF?

The Financial Action Task Force(FATF) will hold its Plenary and Working Group meeting from 16th June,2019. The plenary could take up a proposal to downgrade Pakistan to the blacklist on terrorist financing from its current greylisted status. Pakistan has been under the FATF’s scanner since June,2018 when it was put on the greylist for terror… Continue reading Black or grey: What next for Pakistan at FATF?

Pakistan faces FATF blacklist

The Asia Pacific Group(APG) has conveyed to Pakistan that its action plans on terrorist groups were inadequate after it was grey-listed by the Financial Action Task Force(FATF) for terror financing. APG has said that Pakistan has time until September,2019 to either comply with the demands made by FATF members or it could be blacklisted.The blacklisting… Continue reading Pakistan faces FATF blacklist

Pakistan needs aggressive diplomacy to exit FATF grey list: official

Financial Action Task Force (FATF) has said that Pakistan needs to launch a diplomatic effort to secure enough support to come out of the greylist or to prevent itself from falling into the blacklist. This statement came after a 10-member Pakistani delegation attended a meeting of the Asia-Pacific Group (APG) where it defended Pakistan’s efforts… Continue reading Pakistan needs aggressive diplomacy to exit FATF grey list: official

Ban on LTTE extended for another five years

The Central Government has extended the ban on the Liberation Tigers of Tamil Eelam(LTTE) for another five years under Unlawful Activities (Prevention) Act,1967. The ban was extended due to LTTE’s objective for a separate homeland (Tamil Eelam) for all Tamils that threatened the sovereignty and territorial integrity of India and amounted to secession of a… Continue reading Ban on LTTE extended for another five years

India warns IMF against fresh bailout for Pakistan

Indian Government has cautioned the International Monetary Fund against the fresh bailout for Pakistan. Pakistan has been seeking US $8 billion from the IMF to bail itself out from a severe financial crisis that threatens to cripple the country’s economy. Indian officials has told the IMF that Pakistan which was already grey listed by Financial… Continue reading India warns IMF against fresh bailout for Pakistan

FATF asks Pakistan to track all gold purchases

The Financial Action Task Force (FATF) has asked Pakistan to implement a new set of constraints in its crackdown against terror financing.It includes documenting and regulating all gold markets. The FATF has asked Pakistan to collect data of all gold markets in the country and to restrict the sale and purchase of gold items using… Continue reading FATF asks Pakistan to track all gold purchases

Pakistan could be blacklisted by FATF due to ‘lobbying by India’, says Qureshi

Pakistan foreign minister has said that Pakistan could be blacklisted by the Financial Action Task Force (FATF) due to lobbying by India.He estimated that Pakistan could suffer $10 billion loss annually if it remains on the FATF grey list. In June 2018,the Paris-based FATF had placed Pakistan on the grey list of countries.Pakistan was put… Continue reading Pakistan could be blacklisted by FATF due to ‘lobbying by India’, says Qureshi

After FATF,Asia-Pacific group may also grey-list Pakistan

Pakistan is facing the risk of being greylisted by the Asia Pacific Group (APG).Pakistan has a high non-compliant rate of nearly 70% on 40 recommendations against money laundering and terrorist financing. Earlier,Financial Action Task Force (FATF) had decided to keep Pakistan on its grey list.It means downgrading of the country by institutions like IMF,World Bank,ADB,EU… Continue reading After FATF,Asia-Pacific group may also grey-list Pakistan

Centre bans Yasin Malik-led JKLF under UAPA

Government has banned separatist leader Yasin Malik-led Jammu Kashmir Liberation Front under the Unlawful Activities (Prevention) Act,1967.The Front has been banned for allegedly promoting secessionist activities in Jammu and Kashmir. Earlier,Home Ministry had banned the Jamaat-i-Islami as an unlawful association under Section 3 of the Unlawful Activities (Prevention) Act,1967. The UAPA is a legislation to… Continue reading Centre bans Yasin Malik-led JKLF under UAPA

Pakistan bans UNSC designated outfits; Delhi sceptical

Pakistan has enacted a law United Nations Security Council (Freezing and Seizure) Order, 2019.It was enacted in accordance with the provisions of Pakistan’s United Nations Security Council (UNSC) Act, 1948.It implements United Nations sanctions against individuals and organisation. The objective of the order is that the government will take over the control of assets and… Continue reading Pakistan bans UNSC designated outfits; Delhi sceptical

Terror monitor keeps Pak. on grey list, seeks action

International terror financing watchdog, the Financial Action Task Force (FATF) has decided to keep Pakistan on its grey list.It means downgrading of the country by institutions like IMF, World Bank,ADB,EU and also reduction in risk rating by Moody’s, Fitch and S&P. This was decided at FATF’s week-long plenary meeting in Paris, France FATF has said… Continue reading Terror monitor keeps Pak. on grey list, seeks action