What is the impact of FATF GREY list?
What is the impact of FATF GREY list?
What is the effect of ‘grey listing’? According to the FATF, when it places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes.
What is meant by 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”.
Which countries are on FATF GREY list?
As of 2019, FATF has blacklisted North Korea and Iran over terror financing. Twelve countries are in the grey list, namely: Bahamas, Botswana, Cambodia, Ethiopia, Ghana, Pakistan, Panama, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.
What does FATF’s grey list mean for Pakistan?
The international watchdog against money laundering and financing of terrorism, the Financial Action Task Force (FATF), has put Pakistan on a list of “jurisdictions with strategic deficiencies”, also known as the grey list.
Why Pakistan has been placed in the grey list again?
The task force recognized Pakistan’s efforts and removed it from the grey list in 2015. However due to the tensions between United States and Pakistan, and considering the influence that US has on other countries, Pakistan has been placed in the grey-list yet again, which will be effective from June this year.
Is Pakistan on FATF’s terror financing watchlist?
Pakistan has been placed on the watchlist of FATF and it has until June to sort matters out. There has been a lot of speculation about Pakistan’s inclusion in the terror financing list issued by the Financial Action Task Force (FATF).
Why is Pakistan on fatfatf’s list of countries with anti-money laundering measures?
FATF’s reasoning is Pakistan’s “structural deficiencies” in anti-money laundering (AML) and combating financing of terrorism (CFT). The other countries on the list, in alphabetical order, are Ethiopia, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.