Financial Action Task Force (FATF), Pakistan & Terror Financing – All You Need to Know

Santhosh Kumar 22/06/2019

Financial Action Task Force (FATF) & Pakistan What is Greylist Blacklisting upsc ias essay

From Current Affairs Notes for UPSC » Editorials & In-depths » This topic

The Financial Action Task Force (FATF), the global watchdog that combats money laundering and terrorist financing, had grey listed Pakistan in June 2018 for not cutting down the finances of terrorist groups within its soil. Greylisting puts Pakistan under international scrutiny to prove its compliance with FATF norms. Notably, the greylisting move was initiated by the US.

Even with greylisting measures, Pulwama terror attack happened in February 2019 = FATF (with India’s lobbying) threatens Pakistan that it will be moved to the blacklist due to its failure to comply with the action plan which was due May 2019. Blacklisting could virtually cut all financial flows to Pakistan.

What is the Financial Action Task Force (FATF)?

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Categories: [GS3] Money laundering and its prevention, [GS3] Role of external state and non-state actors in creating challenges to internal security, [GS3] Various security forces and agencies and their mandate, Internal Security, International Security, Refugee & Immigration Issues, Pakistan

Tags: 26/11 Mumbai attack, AML/CTF Regime, Anti-Money Laundering and Countering Financing of Terrorism (AML/CTF), Haqqani Network, In-depths, internal security, international relations, Jaish-e-Mohammad (JeM), Jamaat-ud-Dawa, Lashkar-e-Taiba (LeT), Operation Zarb-e-Azb, Pathankot attack, premium, psir, Pulwama terror attack

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Arun G 18/08/2019
Clear definition
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