What happens if blacklisted by FATF?

A blacklisted country may be subject to economic sanctions by a member of FATF. As an example, Korea and Iran are the countries on the FATF Blacklist. Therefore, we can see sanctions against Korea and Iran.

Will Pakistan be black listed?

ISLAMABAD: There was no possibility of Pakistan being blacklisted by the FATF as it has made “significant progress”, a senior minister claimed on Friday, a day after the global anti-money laundering watchdog retained the country on its “Grey List”, citing “serious deficiencies” on its part in checking terror-financing.

Which country is in black list?

As of 21 February 2020, only two countries were on the FATF blacklist: North Korea and Iran.

Why Pakistan is in FATF list?

Why was Pakistan retained in 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 Pakistan a blacklist?

Getty Images Pakistan has so far avoided being on the blacklist with the help of China, Turkey and Malaysia. Pakistan may remain on the ‘grey list’ of the FATF till the global money laundering and terror financing watchdog meets for its next session in April 2022, according to a media report on Tuesday.

Who supports Pakistan in FATF?

New Delhi: The Financial Action Task Force (FATF) announced Thursday that Pakistan will remain on its ‘grey list’, where it has been since 2018, and will now be joined by Turkey.

Is India in GREY list?

There are now 23 countries in the FATF grey list, officially referred to as “jurisdictions with strategic deficiencies”. From India’s, and most of the rest of the world’s perspective, the most important country on the list is Pakistan. Myanmar is also on the list — and now, Turkey.