Why is Pakistan still in GREY list?

Pakistan was retained on the FATF ‘grey list’ for failing to effectively implement the global FATF standards and over its lack of progress on investigation and prosecution of senior leaders and commanders of UN-designated terror groups.

What is FATF GREY list Quora?

FATF grey lists a country which it considers as a safe haven for terror funding and money laundering. The ‘grey-list’ acts as a warning to the country to tackle the issue & avoid from being ‘black-listed’.

Why has FATF retained Pakistan on GREY list?

What is FATF Quora?

The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society.

What does FATF stand for?

Financial Action Task Force
The Financial Action Task Force (FATF) is an inter-governmental policymaking body whose purpose is to establish international standards, and to develop and promote policies, both at national and international levels, to combat money laundering and the financing of terrorism.

Will Pakistan be blacklisted Quora?

Pakistan will not be blacklisted as it has allies like China and Turkey as members. But it will not be able to escape the greylist either as it can’t get away with cosmetic actions on terrorism.

What is gray list Pakistan?

Pakistan was ‘grey listed’ in June 2018, after the FATF found multiple strategic anti-money laundering (AML)/combating the financing of terrorism (CFT) deficiencies on its part. It was asked to implement the action plan for achieving 10 objectives.

Is Pakistan ready to come out of FATF’s grey list?

According to the FATF norms, Pakistan must meet at least 13 of the 27 parameters laid down by the watchdog to come out of the “grey list.”

Can Pakistan escape the grey list in Afghanistan?

Despite high-level diplomacy and hiring a top lobbying firm and offering its leverage with the Taliban to the U.S. for reduction of violence in Afghanistan, Pakistan will not be able to escape the grey list this time. But that is simply not enough.

Is China behind Pakistan’s efforts to escape the clutches of FATF?

And China could very well be behind the Pakistan’s efforts to escape the clutches of the FATF since the future of the $60 billion China-Pakistan Economic Corridor (CPEC) depends upon Pakistan’s economic solvency, which, in turn, rests on its ability to stay away from the FATF black list.

How many countries does it take to get off the FATF Black List?

While it may have gotten the three votes — China, Turkey, and Malaysia – needed to escape the black list, it would also need approval from 12 out of the FATF’s 39 members to exit the “grey list,” which it has not been able to get so far. Enjoying this article? Click here to subscribe for full access.