The lists of the FATF and Pakistan’s position
The story so far: The global financial crime watchdog Financial Action Task Force in its latest plenary meeting, decided to retain Pakistan on its terror financing ‘grey list’, asking the neighbouring country to expeditiously address the remaining deficiencies in its financial system. For the countries that don't perform well on certain standards, the FATF and FSRBs draw up time-bound action plans to fight financial crimes. While the words ‘grey’ and ‘black’ list do not exist in the official FATF lexicon, they designate countries that need to work on complying with FATF directives and those who are non-compliant, respectively. The FATF appreciated Pakistan’s commitment to fight financial crimes and said that the country now aims to complete the 2021 action plan by January 2023.
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