FINANCIAL ACTION TASK FORCE’S (FATF)

About:

• The Paris based UN watchdog that looks after issues like terrorism financing, money laundering and the flow of black money at the global level has retained Pakistan in the list of countries with “strategic deficiencies”. The list is generally referred to as the “grey list”.
  
  
• The grey listing by FATF shows that the issue of money laundering and consequent funding of illicit activities is fast spreading to other countries as well. The latest grey list includes countries like the Philippines, Malta, South Sudan and Haiti.
  
  
• The 39 member grouping works in close coordination with the UN Security Council which evaluates countries for commitment to anti-money laundering and countering the financing of terrorism (AML/CFT).