FATF- Background and Impacts on Pakistan

0
1742
It protect the system to check whether it had gathered the money generated from criminal activity, terrorism or the money generated from criminal activity.
Money laundering is basically the money earned from illegal or criminal activity, which is depicted as legitimately earned and injected in International Financial System.
Pakistan and the Gray List
Gray list is: A list of stocks that are ineligible for trade by an investment bank’s risk arbitrage division whereas Blacklist is where the financial system is not trusted. Pakistan has been remain in blacklist from 2012-2015 for which
Pakistan stepped towards improving the financial system which led it to being dropped from the list.
Recently Pakistan have taken strong action against some organizations which have tried to exploit the financial system.
Today the financial system of Pakistan is very strong.
Is PakistanĀ in the list?
Different news have been appeared on social media, Government, national and international bodies but clarity have been made that Pakistan would be added in the list from June of this year. Before the inclusion in the list Pakistan have the chance to meet its deficiencies or shortfall in its financial system, according to America and Britain.
Although its challenging for Pakistan to meet the shortfalls where it have rare chances to be added in blacklist. All the organizations of Pakistan have to work on it to resolve the problems in order to maintain its dignity at international level.
Countries- Supported Pakistan
In the very first voting round: China, Saudi Arabia and Turkey supported Pakistan along the favor to demise Pakistan from the list, which remained favorable towards Pakistan. Although being pressured from America only Turley stood in support of Pakistan for which the Pakistan would be added in the list in June.
Pakistan is not included in the FATF counter terrorism financial watch list. US and Allies have failed to put Pakistan on the watch list.

LEAVE A REPLY

Please enter your comment!
Please enter your name here