Financial Action Task Force Current Affairs - 2020

FATF’s Asia Pacific Group keeps Pakistan on ‘Enhanced Follow-up List’

Financial Action Task Force (FATF) Asia Pacific group has kept Pakistan in its ‘Enhanced Follow Up’ list. The organisation had downgraded Pakistan status from “regular follow-up” to “enhanced follow up”. The Asia-pacific group of FATF submitted its report called “Follow up report on mutual evaluation of Pakistan”. In the report, it was highlighted that the Read More…

Pakistan gets another extension on FATF Grey List despite failure to act against terror groups

During the 3rd & and the last Plenary and Working Groups Meeting of the Global anti-money laundering watchdog Financial Action Task Force (FATF) for the current FATF plenary year on 24th June 2020, Pakistan again managed to escape from entering the ‘Blacklist’ despite its continuing failure to act against terrorist organizations. The FATF plenary and Working Read More…

22nd Financial Stability and Development Council meeting chaired by Finance Minister

On May 28, 2020, the Union Finance Minister Nirmala Sitaraman chaired Financial Stability and Development Council meet. Highlights The meeting reviewed current domestic and global economic situation, financial vulnerabilities issues, liquidity of Micro financial institutions, Non-Banking Financial corporations, regulatory responses, etc. The council noted that COVID-19 posed a great threat to the global financial system Read More…

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…