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

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

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 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

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