Annual FATF plenary is being held in Paris in which Pakistan is expected
to be taken off from FATF grey list.
About
An inter-governmental body, established in 1989 during the G7 Summit in
Paris
Secretariat is located at the OECD headquarters in Paris.
39 member jurisdictions (also few associates & observers); India member
since 2010.
FATF Plenary is the supreme decision making body of the FATF , meets 3
times a year.
Mandate
To set FATF Recommendations or standards and promote effective
implementation of legal, regulatory and operational measures for
Combating money laundering.
Terrorist financing.
Threats to the integrity of the international financial system.
FATF Listing
Grey List:
Safe haven countries for supporting terror funding and money
laundering are put into. If not take corrective measures will be
blacklisted, eg. The UAE, Morocco, Pakistan etc.
Black List:
Non-Cooperative Countries or Territories (NCCTs) are put in the
blacklist.
These countries support terror funding and money laundering
activities.
Iran and North Korea have been placed under the Black list.
