FATF delivers major blow to Pakistan, Turkey

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Two countries have been removed from the gray list of FATF. Mauritius and Botswana are off the list. The FATF has congratulated both the countries on their removal from the gray list.

Islamabad: The Financial Action Task Force (FATF) has added three countries to the FATF list. The FATF list now also includes Jordan, Mali and Turkey.

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“The three countries on the FATF list are Jordan, Mali and Turkey. They have all agreed on an action plan with the FATF.” FATF President Marcus Pleor said.

He further said that Pakistan is under constant surveillance and is still in the gray list of FATF.

“The Government of Pakistan has a 34-point action plan, of which 30 topics are addressed. Pakistan has largely addressed 30/34 issues, with the most recent action plan focused on money laundering in June this year. Turkey is on the list of the FATF, which has agreed an action plan,” the FATF president said.

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These countries were removed from the gray list of FATF

Two countries have been removed from the gray list of FATF. Mauritius and Botswana are off the list. The FATF has congratulated both the countries on their removal from the gray list.

What is FATF gray list?

The FATF is an organization that monitors terrorism funding. It is an agency that keeps an eye on those who provide money to ‘nourish’ terrorists. No country wants to be on its ‘grey list’ as it prevents its member countries from engaging in activities like terror financing and money laundering. The objective of this institution is to keep the international financial system clean.

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If Pakistan remains in the ‘Grey List’ of FATF or gets blacklisted, then Pakistan, which is already facing shortage of money, will be doomed. Staying on this list makes it difficult to get financial aid from the International Monetary Fund (IMF), the World Bank and the European Union.

It is no secret that along with Pakistan, Turkey has also been a country of masterminds of terrorists. The name is constantly coming up in terror funding. The friendship between Turkey and Pakistan is also well known.

First published:October 22, 2021, 11:06 am

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