FATF Current Affairs - 2020

India calls for increased cooperation between FATF and UN

To deal with the nexus of terrorist groups India called for increased cooperation between the United Nations (UN) and the Financial Action Task Force (FATF). Speaking at the General Assembly the first Secretary to India’s Permanent Mission said that the activities of terror groups Boko Haram, ISIL, AI Shabab has increased in recent days. In Read More…

Pakistan blacklisted by Asia-Pacific Group of FATF

The Asia Pacific Group (APG) of the Financial Action Task Force (FATF) has put Pakistan in Enhanced Expedited Follow Up List (Blacklist) for its failure to meet its standards. Decision in this regard was taken at FATF APG plenary meeting held in Canberra, Australia. Reasons for blacklisting: FATF APG has found that Pakistan was non-compliant Read More…

Saudi Arabia becomes 1st Arab country to get full FATF membership

Saudi Arabia has become 1st Arab country to be granted full membership of Financial Action Task Force (FATF) following FATF’s Annual General Meeting held in Orlando, Florida in United States (US). Saudi Arabia and FATF Background: Since November 2004, Saudi Arabia has been a founding member of Middle East and North Africa (MENA) arm of Read More…

UNSC Resolution on Terror Financing

The United Nations Security Council (UNSC) has unanimously adopted a French-drafted resolution which ordered countries worldwide to step up the fight against terrorism financing by ensuring they have laws that make it a serious crime to fund terrorist acts. UNSC Resolution This resolution is the first stand-alone measure dedicated specifically to counter the financing of Read More…

FATF keeps Pakistan in Grey List for Failing to Stop Terror Financing

The Financial Action Task Force (FATF) condemning the Pulwama Terror Attack has decided to continue the ‘Grey’ listing of Pakistan for its failure to stop funding of terrorist groups such as Jaish-e-Mohammad, Lashkar-e-Taiba and Jamat-ud-Dawa. Why FATF has decided to continue Pakistan in Grey List? The statement issued by FATF states that Pakistan should continue Read More…