Is Pakistan out of GREY list FATF?

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.

Why was Pakistan placed on the GREY List of Financial Action Task Force FATF )?

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.

Which country has recently been removed from the FATF GREY list?

FATF review meeting Ghana was officially delisted from the grey list following the completion of its action plan and a successful on-site visit by assessors. New jurisdictions that have been added to the grey list include Haiti, Malta, the Philippines and South Sudan.

What is GREY list under FATF?

The ‘grey list’ means that a country gets limited access to international loans. Specifically, “it means the country has committed to resolving swiftly the identified strategic deficiencies within agreed timeframes and is subject to extra checks”.

What kind of measures Pakistan is taking to get off from GREY list set by FATF?

The FATF in recent meeting held in Paris gave Pakistan the deadline of February 2020 to fully implement the FATF’s 27-point action plan. The Paris-based FATF asked Pakistan to take effective measures against money laundering, smuggling and tax evasion, otherwise, it will be placed on blacklist.

What does FATF GREY list means?

The FATF grey list is the agency’s official list of countries and jurisdictions that are identified as having strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing.

What is GREY list 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 a GREY list?

What is FATF GREY list countries?

As of November 2021, the following 21 countries are on the FATF grey list.

• Albania.
• Barbados.
• Burkina Faso.
• Cambodia.
• Cayman Islands.
• Haiti.
• Jamaica.
• Malta.

Will Pakistan stay on FATF’s grey list until February 2021?

The Financial Action Task Force (FATF) has found that Pakistan has successfully complied with 21 out of 27 points of action and decided to keep the country on its ‘grey list’ until February 2021, the watchdog’s president said on Friday.

What is FATF’s 27-point action plan for Pakistan?

In February, the FATF had given Islamabad a four-month grace period to complete its 27-point action plan, noting that Pakistan had delivered on 14 points but missed 13 other targets. On July 28, the government reported to parliament compliance with 14 points of the 27-point action plan and with 10 of the 40 recommendations.

Can Pakistan escape the grey list in Afghanistan?

Despite high-level diplomacy and hiring a top lobbying firm and offering its leverage with the Taliban to the U.S. for reduction of violence in Afghanistan, Pakistan will not be able to escape the grey list this time. But that is simply not enough.

Is China behind Pakistan’s efforts to escape the clutches of FATF?

And China could very well be behind the Pakistan’s efforts to escape the clutches of the FATF since the future of the $60 billion China-Pakistan Economic Corridor (CPEC) depends upon Pakistan’s economic solvency, which, in turn, rests on its ability to stay away from the FATF black list.