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FATF and Pakistan’s position on its ‘Grey List’


FATF and Pakistan’s position on its ‘Grey List’

Q Why is it in News ?

 Pakistan which continues to face an economic crunch from the Financial Action Task Force (FATF), is hoping for some respite in the form of its removal from the FATF’s ‘grey list’.

Q What is the FATF? 

Q How is working of FATF ?

Q What are the Functions of FATF ?

Q What are the Black List and the Grey List?

  1. Black List: The blacklist, now called the “Call for action” was the common shorthand description for the FATF list of “Non-Cooperative Countries or Territories” (NCCTs).
  2. Grey List: Countries that are considered safe haven for supporting terror funding and money laundering are put in the FATF grey list. This inclusion serves as a warning to the country that it may enter the blacklist.

Q What are the Consequences of being in Grey and Black List ? 

(1) In the grey list:

(2) In the black list:

Q What has been status of Pakistan in  FATF ?

Q Why is Pakistan on the grey list?

Q What are the steps taken by Pakistan ?

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