Pakistan to remain in grey list of FATF till February 2021
- The global terror financing watchdog, Financial Action Task Force (FATF) has announced that Pakistan will continue to remain on its grey list till February 2021.
- This decision has been taken since Pakistan has not been able to fulfil six out of the 27 mandates to check terror funding.
- FATF has strongly urged Pakistan to swiftly complete its full action plan by February 2021.
FATF
- The FATF (Headquarters: Paris, France) is an inter-governmental body set up in 1989.
- Its objective is to combat money laundering, terror financing and other related threats to the international financial system.
- It currently has 39 members which include two regional organizations, the European Commission and Gulf Cooperation Council.