Financial Action Task Force News
The Financial Action Task Force (FATF) periodically identifies jurisdictions with weak measures to combat money laundering and terrorist financing activities. According to the central bank, new investors from non-compliant FATF jurisdictions would not be permitted to acquire, directly or indirectly, 'significant influence' in a PSO. The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog.
Moments after Pakistan failed to get off the terror-financing watchdog Financial Action Task Force's (FATF) grey list, an internal feud loomed large in the country. Pakistan Muslim League (N) leader Khawaja M Asif slammed Imran Khan-led Pakistan Tehreek-e-Insaf (PTI). In a decision that was on expected lines, Pakistan continues to remain on the FATF grey list that will impact the economy of the country.
In a decision that was on expected lines, Pakistan continues to remain on the Financial Action Task Force's (FATF) grey list that will impact the economy of the country. Being on the grey list means, the country needs to make reforms in its financial system so that money is not used for terrorism. Pakistan was placed on the Paris based body's grey list in June 2018 and given an action plan to implement.
India on Thursday said that Islamabad has not taken any action on terrorists and it has been providing safe haven to them. This comes ahead of the announcement by the Financial Action Task Force (FATF) on Pakistan's continued listing or delisting. MEA Spokesperson said, "...Pakistan continues to provide safe havens to terrorist entities and individuals..."