When was Pakistan placed in FATF GREY?

June, 2018
Pakistan was placed on the grey list by the FATF in June, 2018 and was given a plan of action to complete it by October, 2019. Since then, the country continues to be on that list due to its failure to comply with the FATF mandates.

What does it mean to be on GREY list 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”.

What is the meaning of FATF in Urdu?

Financial Action Task Force in Hindi & Urdu.

What is GREY and black list?

Black List: Countries knowns as Non-Cooperative Countries or Territories (NCCTs) are put in the blacklist. The FATF revises the blacklist regularly, adding or deleting entries. b. Grey List: Countries that are considered safe haven for supporting terror funding and money laundering are put in the FATF grey list.

Will Pakistan be removed from FATF’s grey list?

The Pakistan government has submitted a compliance report on its 27-point action plan to the Financial Action Task Force (FATF). There are separate evaluations in place and that will determine whether Pakistan will be removed from the grey list of the anti-money laundering watchdog.

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.

What does it mean when a country is greylisted by fatfatf?

FATF grey lists a country which it considers as a safe haven for terror funding and money laundering. Though, inclusion in the list is not as severe as being black listed. It is a warning to the country to tackle the issues. If the country is not actively tackling money laundering or terror funding, it is then blacklisted.

What is the FATF’s stance on Pakistan?

Pakistan had first figured in a FATF statement after the plenary of February 2008. At that time, FATF had noted Pakistan’s recent progress in adopting anti-money laundering legislation but urged financial institutions to be aware of the “remaining deficiencies” that could constitute a vulnerability in the international financial system.