What is Greylist of FATF?
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What is Greylist of FATF?
When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the “grey list”.
How many countries are there in Greylist of FATF?
A total of 23 countries are listed under the ‘Jurisdictions with strategic deficiencies’ category in the ‘Grey List’, while two countries are listed under the ‘Jurisdiction no longer subject to increased monitoring’.
What is FATF Pakistan?
The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
How many countries are in Greylist of FATF?
What is the impact of FATF grey list on Pakistan’s GDP?
Pakistan has been hit with massive losses to its GDP worth $38 billion because of the Financial Action Task Force’s (FATF) decision to retain the country on its grey list since 2008, according to a research paper published by the Islamabad-based independent think-tank, Tabadlab.
How many action points has Pakistan met in FATF so far?
Out of the 27 action points, Pakistan has, so far, fully met the standards of 21 points. Here is a quick overview of the FATF categorisation and Pakistan’s chequered history with the inter-governmental group.
Is Pakistan ready to implement FATF action plan 2021?
After a three-day plenary, FATF announced on Friday (October 23) that Pakistan remained on the ‘grey list’ and had time till February 2021 to fully implement the “Action Plan’. Out of the 27 action points, Pakistan has, so far, fully met the standards of 21 points.
Why is Pakistan on the UN’s grey list?
Pakistan was retained on the grey list, or list of countries under “increased monitoring”, as the Paris-based UN watchdog judged it deficient in prosecuting the top leadership of UN Security Council-designated terror groups. The list includes Lashkar-e-Taiba, Jaish-e Mohammad, Al Qaeda and the Taliban .