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| FATF retains Pakistan on its grey list; Turkey also added to list | Daily Current Affairs Dose |
Our Daily Current Affairs Dose 2021 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.
FATF retains Pakistan on its grey list; Turkey also added to list | Daily Current Affairs Dose
FATF retains Pakistan on its grey list; Turkey also added to list: The Financial Action Task Force (FATF) has retained Pakistan on its Grey List; Turkey also added to list. FATF President Marcus Pleyer announced the decision was after a three-day-long plenary session of the global terror financing watchdog in Paris yesterday. He said, Pakistan government failed to comply with four of the action points out of a 34-point action plan given by FATF.
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Other Three Countries also added to the FATF Grey List
Three other countries - Turkey, Mali and Jordan have been added to the FATF Grey List. FATF also expressed concern over the current evolving money laundering and terrorist financing risk environment in Afghanistan after Taliban took control of the nation.
FATF retains Pakistan on its grey list: Key Highlights
Pakistan was placed on the grey list by the FATF in June 2018 for failing to check money laundering, leading to terror financing.
The FATF plenary was attended by delegates International Monetary Fund, the United Nations and the Egmont Group of Financial Intelligence Units among others. It will meet again in April 2022.
According to the FATF President Marcus Pleyer, Pakistan needs to further demonstrate that investigations and prosecutions are being pursued against the senior leadership of UN-designated terror groups including India's most wanted Hafiz Saeed and Masood Azhar. Masood Azhar was involved in the 2008 Mumbai terror attacks, 2016 Pathankot attack, and 2019 Pulwama attack.
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Pakistan's inclusion in the grey list has severely hampered Islamabad's prospects of obtaining financial assistance from world bodies such as the International Monetary Fund, World Bank, and Asia Development Bank. Most recently, Islamabad's endeavour to obtain a 1 billion dollar loan from the IMF also failed.(inp:newsOnair)
Important facts for upcoming exams from the above Current Affairs Topic
- Full form of FATF: Financial Action Task Force
- Formation of FATF: 1989
- Purpose of FATF: Combat money laundering and terrorism financing
- Headquarters of FATF: Paris, France
- President of FATF: Marcus Pleyer
- Member of FATF: 39 Countries
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