Pakistan again placed on FATF’s grey list

The global money laundering and terrorist financing watchdog, Financial Action Task Force (FATF), retained Pakistan in the grey list and asked the country to work on money laundering investigations and prosecutions. FATF also added the United Arab Emirates (UAE) to its grey watchlist.

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The decision has been taken after the conclusion of the four-day FATF Plenary from March 1-4, 2022. The event took place in hybrid mode from Paris, France. Pakistan has been on the grey list of FATF since June 2018 for failing to check money laundering and terror financing. It was given a plan of action to complete it by October 2019 but it fails to comply with the FATF mandates.

What is FATF grey list?

FATF grey list is the list in which jurisdictions under increased monitoring are placed. If a jurisdiction is placed under increased monitoring, this means that jurisdiction is committed to resolving strategic deficiencies within agreed timeframes.
Jurisdictions under the FATF grey list actively work with FATF to address strategic deficiencies in their regime to fight against money laundering and terrorist financing.

Important takeaways for all competitive exams:

FATF Founded: 1989;
FATF Members: 39;
FATF Headquarters: Paris, France;
FATF President: T Raja Kumar (Singapore).

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.