Why was Pakistan placed on the GREY list?

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 Pak 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?

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 in FATF GREY?

There are now 23 countries in the FATF grey list, officially referred to as “jurisdictions with strategic deficiencies”.

Is Turkey in FATF gray list?

The FATF recently added Turkey to its “Gray List”—a list of countries that FATF has determined to have “strategic deficiencies” in their anti-money laundering (AML) and counter-terrorism financing (CFT) laws and regulations.

How many FATF lists are there?

39 members
There are currently 39 members of the FATF; 37 jurisdictions and 2 regional organisations (the Gulf Cooperation Council and the European Commission). These 39 Members are at the core of global efforts to combat money laundering and terrorist financing.

How many countries are there in GREY list?

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’.

Why did FATF keep Pakistan on its ‘grey list’?

NEW DELHI: The Financial Action Task Force ( FATF) on Friday decided to keep Pakistan on its ” grey list “, saying that the country has failed to act on six key mandates. In a statement, the FATF urged Pakistan to complete an internationally agreed action plan by February 2021. What is FATF?

How long will it take to exit FATF’s ‘grey list’?

But there is a political side of FATF due to which it may take another six months to exit the ‘Grey List’,” Dr Khan said. 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 or face the risk of being placed on the blacklist along with Iran and North Korea.

When will Pakistan complete its FATF action plan?

As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021,” it said in a statement.

What is the fatfatf grey list?

FATF grey list constitutes countries that are considered as a safe haven for terror funding and money laundering. Though, inclusion in the list is not as severe as being black listed.

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