Pakistan in FATF grey list - TNPSC GURU - TNPSC Group 2A/2 Apply Online - Join Test batch


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Monday, July 2

Pakistan in FATF grey list

TNPSC Current Affairs - June 2018 by TNPSC Guru 

The Financial Action Task Force (FATF) had formally placed Pakistan on the grey list for failing to curb anti-money laundering and terrorism financing regime.

About FATF
  • FATF is an inter-governmental body to combat money laundering and terrorist financing.
  • It was established in G-7 summit in 1989, headquartered in Paris, France..
  • It has 37 member including India, European Union and the Gulf Co-operation Council 

About Grey list
  • Including in Grey list which means the country which not taken enough step to counter money laundering and terrorist financing.
  • It will decrease the foreign investment in the country considering the ties to terrorist activities , also the image of country.
  • Also very difficult to get the loan from International monetary fund, world bank and other foreign financial institution.

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