FATF puts Pakistan in ‘enhanced blacklist’ | 23.08.2019

एफएटीएफ के एशिया प्रशांत समूह ने पाकिस्तान को 'विस्तृत काली सूची’ में डाला

Points to Remember:

  • The FATF Asia-Pacific Group on Money Laundering and Terror Financing has put Pakistan in the Enhanced Expedited Follow Up List (Blacklist) for its failure to meet its standards
  • The Asia Pacific Group (APG) of the Financial Action Task Force (FATF) has also found that Pakistan was non-compliant on 32 of the 40 compliance parameters of terror financing and money laundering.
  • The FATF APG meeting was held in Canberra, Australia and the discussions lasted over seven hours over two days.
  • On 11 effectiveness parameters of terror financing and money laundering, Pakistan was adjudged as low on 10. The official said despite its efforts, Pakistan could not convince the 41-member plenary to upgrade it on any parameter.
  • Now, Pakistan has to focus on avoiding the blacklist in October, when the 15-month timeline ends on the FATF’s 27-point action plan.

About Pakistan (Static GA/GK Important for RRB NTPC/IBPS RRB Mains 2019) :

  • Capital: Islamabad
  • President: Arif Alvi
  • Prime Minister: Imran Khan
  • Currency: Pakistani rupee

About FATF (Static GA/GK Important for RRB NTPC/IBPS RRB Mains 2019) :

  • The Financial Action Task Force (on Money Laundering) (FATF) is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.
  • In 2001 its mandate expanded to include terrorism financing.
  • Headquarters: Paris, France
  • President: Xiangmin Liu
Important Possible questions based on above News:
  1. Which countrty has been placed on the blacklist of the Financial Action Task Force’s Asia Pacific Group recently?Pakistan
  2. Who is the current President of Pakistan? Arif Alvi
  3. Who is the current President of Financial Action Task Force? Xiangmin Liu

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