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