Is India is a member of FATF?

On June 25, 2010 India was taken in as the 34th country member of FATF. FATF’s role in combating terror financing became prominent after the 9/11 terror attacks in the US. In 2001 its mandate expanded to include terrorism financing.

Is Pakistan under FATF?

Pakistan has been on the Paris-based FATF’s grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018. Moreover, three other countries are onto the FATF list: Jordan, Mali and Turkey. They have all agreed on an action plan with the FATF.

What is AML Act?

Anti-money laundering (AML) refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.

Is Pakistan failing to fulfill its FATF action plan obligations?

According to him, Pakistan also has failed to fulfil six key obligations. “FATF had given Pakistan a total of 27 action plan obligations for completely checking terror financing of which so far it has cleared 21 but failed in some of the key tasks,” he said.

Why is Pakistan still on the FATF’s grey list?

India, with the support of the United States, pushed for Pakistan’s blacklisting. Pakistan has remained on the FATF’s grey list for allegedly failing to implement strict laws to counter money laundering and terrorism financing.

Is India’s presence at the FATF an impediment to its case?

Pakistan sees India’s presence at the FATF as an impediment to its case. In March, Islamabad asked the FATF to remove India as the co-chair of the Asia Pacific Group (APG) to ensure that “ [the] FATF process is fair, unbiased and objective.”

Is the FATF APG unfriendly to Pakistan?

Moreover, Islamabad believes that the current governing structure of the FATF APG is extremely unfriendly to Pakistan’s interests. For Pakistan, India and the U.S., which form the central body of the APG forum, stand to gain by isolating Islamabad internationally.