FATF blacklist: Current Affairs, GK & News - 2020-2021

FATF: Pakistan to remain on “Grey List”

Published: October 24, 2020

On October 24, 2020, the Financial Action Task Force voted for Pakistan to remain under “grey list” of the organisation. The decision was taken as Pakistan failed to comply with all the 27 parameters set by the FATF. It has completed only 21. Earlier, the asia-pacific group of FATF submitted a report titled “Follow up ..

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RBI bans FDI establishments from Mauritius-Reasons, Causes, Impacts

Published: October 8, 2020

The Reserve Bank of India recently said that companies cannot set up Foreign Direct Investment from Mauritius. The apex bank has also banned FDI from jurisdictions similar to Mauritius as they do not comply with the norms set by Financial Action Task Force (FATF). Highlights Mauritius was recently listed in grey list of the FATF. ..

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Pakistan blacklisted by Asia-Pacific Group of FATF for its failure to comply with terror funding standards

Published: August 24, 2019

The Asia-Pacific Group (APG) of the Financial Action Task Force (FATF) is a global watchdog for terror financing and money laundering. It has recently put Pakistan in the Enhanced Expedited Follow Up List (Blacklist) for its failure to meet its standards. The APG has also found that Pakistan was non-compliant on 32 of the 40 ..

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Saudi Arabia becomes first Arab country to get FATF membership

Published: June 28, 2019

Saudi Arabia has become the first Arab country to be granted full membership of Financial Action Task Force (FATF) following its Annual General Meeting at Orlando in Florida, USA. Since November 2004, Saudi Arabia has been a founding member of the Middle East and North Africa (MENA) arm of the FATF group. Its full FATF ..

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Pakistan could be blacklisted by FATF

Published: April 6, 2019

Pakistan Foreign Minister Shah Mahmood Qureshi said that Pakistan could be blacklisted by the Financial Action Task Force because of ‘lobbying by India’ after estimating that the country could suffer $10 billion loss annually if it remains in the watchdog’s grey list. Last year the Paris-based FATF had placed Pakistan on the ‘grey list’ of ..

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