ForumIAS LATEST
- Prelims Test Series (PTS) for Prelims 2027 starts 11th Oct. 2026 Click Here to know more →
- [Pre-order] Ethics Redbook 3rd Edition: Delivery starts from 10th October onwards Click Here to Read More →
- 21 Sept. | Forum Residential Coaching (FRC) for UPSC preparation Click Here to know more →
- 21 Sept. | GS Advance Program (GSAP) for UPSC 2027 Mains starts from 10th Oct. Click Here to Read More →
‘Grey-listing’ nothing new: Pak.
News:
- The global financial watchdog Financial Action Task Force( FATF) has placed Pakistan on the “grey list” for failing to curb terror financing.
Important facts:
2. The announcement comes a day after Pakistan submitted a Comprehensive 26 Action Plan to the FATF to chock funding of military groups.
3. The decision was taken at the FATF’s plenary session held in Paris.
4. However, there has been no formal announcement by the FATF so far.
5. In Feb it was agreed that an Action Plan would be negotiated between Pakistan and FATE members
6. Implications of this on Pakistan:
- The placement on greylist could hurt Pakistan economy and its international standing.
7. Financial Action Task Force( FATF):
- Is an inter-governmental body established in 1989.
- It was established by a Group of Seven (G-7) Summit in Paris
- It was established to combat money laundering, terror financing, and other related threats to the integrity of international financial system
- The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
