What is FATF, Grey List and Black list?

Financial Action Task (FATF) is an intergovernmental organization founded in 1989 byG7 to combat money laundering.In 2001, it’s expanded to include terrorism financing.

Grey List: Called the “other monitored jurisdiction”-means to warned the country about their illegal activities.

Black List: Called the “call for Action” –in this particular country totally distruct from other countries, because of terrorist activties and money laundering activities .North korea,Iran and Cuba have into black list.

Consequences of Black List:

1.  Huge inconvenience

2.  Loss of credibility and good will

3.  Decline  in business and clients

4.  Hardship financial activities

5.  Recently, Pakistan have in grey list.

Pakistan full field only 14 points out 27-points, that’s why in grey list Pakistan tird time in FATF grey list in 2008,2012-2015 and none.

Should be focus on:

1.  Improved mechanism of terror financing.

2.  Introduced new guidelines for all countries, etc.

Pakistan should also be understand that only clear and consist ant actions will be free from FATF lists. Pakistan should be agree with FATF guidelines and stop work for terrorist activities.


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