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- Published: June 17, 2022 21:12
New Delhi: In the latest plenary meeting, Finacial Action Task Force did not give any relief to Pakistan and maintained its position on the Grey List on Friday. FATF said Pakistan did not fulfil the conditions related to terror financing and money laundering.
On the action, FATF president Marcus Pleyer said, ”Paksitan is not being removed from the grey list today. It will be removed if the onsite visit finds its actions are sustainable.”
The plenary meeting of FATF was organised in March when the global watchdog retained Pakistan in its Grey List.
At the last meeting, it had asked Pakistan to invest and take strict action against senior leaders and commanders of UN-designated terrorist groups for terror financing.
Pakistan was first put on the List. In the coming years, the FATF reviewed Pakistan’s position in 2018, 2019, 2020, 2021 (April), 2022 (March), and March 2022 but decided to remove the country from the list.
What is FATF?
The Financial Action Task Force (FATF) is an inter-governmental body. It was established in 1989 with the motive of taking action against the countries that are involved in money laundering. Its headquarter is located in Paris.
The FATF has a provision for two lists: Black List and Grey List.
In the Black list, The FATF puts those countries that are Non-Cooperative countries or Territories (NCCTs).
