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