FATF | MCQs

Explanation

Pakistan needs 12 votes out of 39 to exit the 'grey' list and move to the 'white' list.

To avoid 'black' list, it needs support of three countries.

China, Turkey and Malaysia are its consistent supporters.

Explanation

On June 2018 FATF added Pakistan to its gray list

Pakistan needs 12 votes out of 39 to exit the “grey" list and move up to join countries that do not require monitoring. 

Pakistan has been removed from the list after four years n 21 October 2022

 on Thursday FATF decided to retain Pakistan on its ‘Grey List’ till June 2021

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while 

On 24 February 2023, FATF added South Africa and Nigeria to its gray list

On 24 February 2023, FATF removed Cambodia and Morocco from its gray list

Explanation

The Financial Action Task Force (FATF) decided in February of this year to reconsider the matter later regarding the issue of Pakistan's alleged failure to curb financing for terrorism.

This decision indicates that FATF will revisit the issue at a later date to assess Pakistan's compliance with international standards for combating money laundering and terrorist financing.

Explanation

Pakistan is placed on the grey list for the third time on 28 June 2018 after being removed from it in 2015.

Explanation

Pakistan needs 3 votes out of 39 to exit the 'grey' list and move to the 'white' list. To avoid 'black' list, it needs support of three countries. China, Turkey and Malaysia are its consistent supporters.

 The FATF currently has 39 members including two regional organizations (the European Commission and Gulf Cooperation Council). 

Financial Action Task Force (FATF)

Explanation

Explanation

Pakistan was first placed on FATF increased monitoring list — the so-called "grey list" — for allegedly failing to take adequate measures to curb terror financing and money laundering on 28 February 2008.

Explanation

FATF Stands for Financial Action Task Force. 

Headquarters located in Paris & founded in 1989.

FATF recently meeting held in Paris from 01-03-2022 to 04-03-2022.

FATF once again retained Pakistan on grey list.

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Pakistan needs 12 votes out of 39 to exit the “grey" list and move up to join countries that do not require monitoring. 

Explanation

Pakistan was placed and in FATF`s Grey List for the second time on 16 February 2012.

Pakistan was removed: 26 February 2015

Explanation

Pakistan was placed and in FATF`s Grey List for the second time on 16 February 2012.

Pakistan was removed: 26 February 2015