Global anti-money laundering watchdog, the Financial Action Task Force (FATF) on Friday (Feb 23rd) announced the latest additions to its increased monitoring list aka the grey list.

<h2>FATF grey list February 2024</h2>

The global body that leads global action to tackle money laundering, terrorist and proliferation financing, as per its latest update, has removed the United Arab Emirates, Barbados, Gibraltar, and Uganda from its grey list.

Congratulating the nations, the FATF said, "These jurisdictions had committed to implement an Action Plan to resolve swiftly the identified strategic deficiencies within agreed timeframes."

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"These countries will no longer be subject to the FATF’s increased monitoring process," it added.

It also announced fresh additions to its grey list. This year, Kenya and Namibia will be subject to increased monitoring from the FATF.&nbsp;

When the FATF places a jurisdiction under increased monitoring, "it means the country has committed to implement an Action Plan to resolve swiftly the identified strategic deficiencies within agreed timeframes."

Currently, there are 21 nations — Bulgaria, Burkina Faso, Cameroon, Croatia, Democratic Republic of Congo, Haiti, Jamaica, Kenya, Mali, Mozambique, Namibia, Nigeria, Philippines, Senegal, South Africa, South Sudan, Syria, Tanzania, Türkiye, Vietnam, and Yemen — are on the list.

<h2>FATF black list</h2>

The global money-laundering watchdog has not made any new additions to its "Jurisdictions subject to a call for action" aka its black list.

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These countries or jurisdictions, as per the FATF website, have "serious strategic deficiencies to counter money laundering, terrorist financing, and proliferation financing. These jurisdictions are subject to a call for action to protect the international financial system."

<h2>FATF condemns Russia</h2>

It also repeated its condemnation of Russia for its invasion of Ukraine two years ago. It said: "One year after the Russian Federation’s illegal, unprovoked and unjustified full-scale military invasion of Ukraine, the FATF reiterates its deepest sympathies for the people of Ukraine and continues to deplore the huge loss of lives and malicious destruction caused by the Russia Federation’s ongoing brutal attack on Ukraine."

"The FATF acknowledges the United Nations General Assembly Resolution ES-11/1 which demands that the Russian Federation immediately, completely and unconditionally withdraw all of its military forces from the territory of Ukraine within its internationally recognised borders."

"The FATF continues to call upon all jurisdictions to remain vigilant of threats to the integrity, safety and security of the international financial system arising from the Russian Federation’s war against Ukraine," it added.

(With inputs from agencies)

Global anti-money laundering watchdog, the Financial Action Task Force (FATF) on Friday (Feb 23rd) announced the latest additions to its increased monitoring list aka the grey list.

Global anti-money laundering watchdog, the Financial Action Task Force (FATF) on Friday (Feb 23rd) announced the latest additions to its increased monitoring list aka the grey list. FATF grey list February 2024 The global body that leads global action to tackle money laundering, terrorist and proliferation financing, as per its latest update, has removed the United Arab Emirates, Barbados, Gibraltar, and Uganda from its grey list. Congratulating the nations, the FATF said, "These jurisdictions had committed to implement an Action Plan to resolve swiftly the identified strategic deficiencies within agreed timeframes." Also read | Ukraine launches probe into over 122,000 suspected war crimes since start of Russian invasion "These countries will no longer be subject to the FATF’s increased monitoring process," it added. It also announced fresh additions to its grey list. This year, Kenya and Namibia will be subject to increased monitoring from the FATF. When the FATF places a jurisdiction under increased monitoring, "it means the country has committed to implement an Action Plan to resolve swiftly the identified strategic deficiencies within agreed timeframes." Currently, there are 21 nations — Bulgaria, Burkina Faso, Cameroon, Croatia, Democratic Republic of Congo, Haiti, Jamaica, Kenya, Mali, Mozambique, Namibia, Nigeria, Philippines, Senegal, South Africa, South Sudan, Syria, Tanzania, Türkiye, Vietnam, and Yemen — are on the list. FATF black list The global money-laundering watchdog has not made any new additions to its "Jurisdictions subject to a call for action" aka its black list. Also read | German parliament supports partial legalisation of cannabis, doctors warn will increase risk of addiction These countries or jurisdictions, as per the FATF website, have "serious strategic deficiencies to counter money laundering, terrorist financing, and proliferation financing. These jurisdictions are subject to a call for action to protect the international financial system." FATF condemns Russia It also repeated its condemnation of Russia for its invasion of Ukraine two years ago. It said: "One year after the Russian Federation’s illegal, unprovoked and unjustified full-scale military invasion of Ukraine, the FATF reiterates its deepest sympathies for the people of Ukraine and continues to deplore the huge loss of lives and malicious destruction caused by the Russia Federation’s ongoing brutal attack on Ukraine." "The FATF acknowledges the United Nations General Assembly Resolution ES-11/1 which demands that the Russian Federation immediately, completely and unconditionally withdraw all of its military forces from the territory of Ukraine within its internationally recognised borders." "The FATF continues to call upon all jurisdictions to remain vigilant of threats to the integrity, safety and security of the international financial system arising from the Russian Federation’s war against Ukraine," it added. (With inputs from agencies)

Money laundering watchdog FATF condemns Russia for Ukraine war; removes UAE from grey list

Pakistan's fate hangs in balance as crucial Financial Action Task Force (FATF) plenary begins in Paris later today. The plenary will decide whether Pakistan stays in or out of the 'Grey List'.

Pakistan's fate hangs in balance as crucial Financial Action Task Force (FATF) plenary begins in Paris later today. The plenary will decide whether Pakistan stays in or out of the 'Grey List'. In its meeting late last year, the FATF had told Islamabad that it could face blacklisting if it continued to apply ''inadequate controls'' over terrorism financing. FATF already has Pakistan on its 'Grey List' of countries with inadequate controls over curbing money laundering and terrorism financing. Also read: Pakistan court convicts 26/11 mastermind, Hafiz Saeed, in terror financing case The Pakistan government has informed the FATF that UN-designated terrorist Masood Azhar and his family are missing at the moment. Azhar founded the terror organisation Jaish-e-Mohammed (JeM), which was responsible for several gruesome attacks on Indian soil including the Pulwama attack last year. Of 40 recommendations made by the watchdog, Pakistan had fully complied with only one, largely complied with nine, partially complied with 26, and missed four parameters, which were mandatory if Islamabad wanted to be removed from the 'Grey List', a review by the group last year said. FATF also asked Pakistan to crack down on terror groups like Islamic State, al-Qaeda, Jamaat-ud-Dawa (JuD), Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM), which continue to raise funds openly in Pakistan. Under pressure, Pakistan was forced to act. Just days ago, Pakistan, for the first time convicted, LeT founder and mastermind of the Mumbai terror attack Hafiz Saeed in 2 terror funding cases. The Indian government has already said, "The efficacy of this decision remains to be seen. It has to also be seen whether Pakistan would take action against other all terrorist entities and individuals operating from territories under its control". Even the United States has asked Pakistan to hold Saeed responsible for the Mumbai terror attacks in which 166 people were killed including 6 Americans. However, Islamabad says it has seized the groups' assets and put the terrorists on trials, like the entire leadership of the (JuD), including its chief Saeed. If Pakistan joined the blacklist alongside Iran and North Korea, Islamabad would face sanctions and economic setbacks at a time when its economy is struggling with a balance of payment crisis.

Pakistan's fate hangs in the balance as FATF plenary kicks off today in Paris 

France will objectively evaluate <a href="https://www.wionews.com/.../for-pakistan-pm-atrocities-over-2-million- muslims-is-nothing-says-he-wont-criticise-china-because-they-helped-us- ...">Pakistan</a>'s actions on combating terror funding "without any concession" and a report on action taken by the country will be presented during the next month's Financial Action Task Force (FATF) plenary meet in Paris, French diplomatic sources said.

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"Meeting of FATF's Asia/Pacific Group, which was held in Beijing, analysed Pakistan's situation from a technical point of view. Report on action undertaken by Pakistan for implementing its plan of action will be presented in February, during its plenary meet in Paris," they said.

"France is determined to continue combating money laundering and terror financing, and on this occasion, will objectively evaluate, without any concession, Pakistan's actions," diplomatic sources added.

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This came after Pakistan recently submitted its action plan report to the joint group of FATF meeting held in Beijing with China expressing satisfaction over the "visible progress" made by Islamabad, leading to speculations that it could be put in "white" list from "grey" list, according to Pakistani media reports.

The FATF in 2018 placed Pakistan on the grey list and the watchdog has already granted Islamabad an extension till February 2020 during a meeting in October last year.

The body warned that Islamabad would be put on the blacklist if it did not comply with the remaining 22 out of 27 points related to anti-money laundering and counter-terrorist financing.

France will objectively evaluate Pakistan's actions on combating terror funding "without any concession" and a report on action taken by the country will be presented during the next month's Financial Action Task Force (FATF) plenary meet in Paris, French diplomatic sources said.

France will objectively evaluate Pakistan's actions on combating terror funding "without any concession" and a report on action taken by the country will be presented during the next month's Financial Action Task Force (FATF) plenary meet in Paris, French diplomatic sources said. Also read: France uses Davos to pursue global 'digital tax' goal "Meeting of FATF's Asia/Pacific Group, which was held in Beijing, analysed Pakistan's situation from a technical point of view. Report on action undertaken by Pakistan for implementing its plan of action will be presented in February, during its plenary meet in Paris," they said. "France is determined to continue combating money laundering and terror financing, and on this occasion, will objectively evaluate, without any concession, Pakistan's actions," diplomatic sources added. This came after Pakistan recently submitted its action plan report to the joint group of FATF meeting held in Beijing with China expressing satisfaction over the "visible progress" made by Islamabad, leading to speculations that it could be put in "white" list from "grey" list, according to Pakistani media reports. The FATF in 2018 placed Pakistan on the grey list and the watchdog has already granted Islamabad an extension till February 2020 during a meeting in October last year. The body warned that Islamabad would be put on the blacklist if it did not comply with the remaining 22 out of 27 points related to anti-money laundering and counter-terrorist financing.

France to 'objectively evaluate' Pakistan's actions on curbing terrorism

Pakistan gets a “stern warning” by the financial action task force.

Xiangmin Liu, the president of the global financial watchdog has warned Pakistan to fully comply with all of its parameters.

Islamabad though proudly basks in just having complied with 5 of the 27 parameters.

Imran khan has less than four months failing which Pakistan would be blacklisted in the next plenary in February 2020.&nbsp;

The inter-governmental body has told Islamabad that it could be placed on the blacklist should it fail to tackle terror financing and money laundering.

Both are grievous charges that the Pakistani deep state has over the years, instead of getting its act together, simply managed to hide better.&nbsp;

The financial action task force is seen as a major tool of leverage over Pakistan — encouraging, rather pushing Islamabad to crack down on home-grown terrorists who have peddled their jihad — with the tacit support of the crown jewel of the Pakistani deep state — the ISI.

Hafiz Saeed, the 26/11 mastermind, and Masood Azhar, the Jaish-e-Mohammed chief are UN-designated terrorists who are being feted by successive Pakistani governments.

What is surprising is that despite the sea of evidence against them, why must Pakistan get away with a slap on the wrist?.

And instead of introspecting, Pakistan had no qualms about blaming India for lobbying to have it blacklisted.

As per reports, China, Pakistan's all-weather ally yet again came to Islamabad's rescue.

And countries such as turkey and Malaysia “lauded” Pakistan's efforts to curb terror financing.

The truth, as much as it would sting Imran Khan, remains — that Pakistan's economy can't afford to be blacklisted.

And, given Islamabad's roots in the decades-long business of financing, nurturing and unleashing terrorists across the entirety of the SAARC region and beyond, it looks like an uphill battle that Islamabad isn’t ready for.

Pakistan gets a “stern warning” by the financial action task force. Xiangmin Liu, the president of the global financial watchdog has warned Pakistan to fully comply with all of its parameters.

Pakistan gets a “stern warning” by the financial action task force. Xiangmin Liu, the president of the global financial watchdog has warned Pakistan to fully comply with all of its parameters. Islamabad though proudly basks in just having complied with 5 of the 27 parameters. Imran khan has less than four months failing which Pakistan would be blacklisted in the next plenary in February 2020. The inter-governmental body has told Islamabad that it could be placed on the blacklist should it fail to tackle terror financing and money laundering. Both are grievous charges that the Pakistani deep state has over the years, instead of getting its act together, simply managed to hide better. The financial action task force is seen as a major tool of leverage over Pakistan — encouraging, rather pushing Islamabad to crack down on home-grown terrorists who have peddled their jihad — with the tacit support of the crown jewel of the Pakistani deep state — the ISI. Hafiz Saeed, the 26/11 mastermind, and Masood Azhar, the Jaish-e-Mohammed chief are UN-designated terrorists who are being feted by successive Pakistani governments. What is surprising is that despite the sea of evidence against them, why must Pakistan get away with a slap on the wrist?. And instead of introspecting, Pakistan had no qualms about blaming India for lobbying to have it blacklisted. As per reports, China, Pakistan's all-weather ally yet again came to Islamabad's rescue. And countries such as turkey and Malaysia “lauded” Pakistan's efforts to curb terror financing. The truth, as much as it would sting Imran Khan, remains — that Pakistan's economy can't afford to be blacklisted. And, given Islamabad's roots in the decades-long business of financing, nurturing and unleashing terrorists across the entirety of the SAARC region and beyond, it looks like an uphill battle that Islamabad isn’t ready for.

Pakistan escapes terror blacklisting: Is FATF too easy on Islamabad?

Pakistan will remain on the <a href="https://www.wionews.com/india-news/no-relief-for-pakistan-from-fatf-formal-statement-expected-on-october-18-256555">FATF's grey list</a> till February 2020 and has been asked to fulfil its commitments by that time period. Most members expressed serious concern on Pakistan's progress on its anti finance terror commitments.

The outcome comes after a <a href="https://www.wionews.com/south-asia/no-relief-for-pakistan-from-fatf-formal-statement-expected-today-256670">week-long meet of the FATF's plenary in Paris</a> which started on Monday. A five-member Pakistani team, led by Hammad Azhar, Federal Minister for Economic Affairs of Pakistan, is in Paris for the meet.

FATF is a technical body with the aim to protect the<a href="https://www.wionews.com/india-news/to-support-terrorism-is-pakistans-state-policy-fatf-has-created-pressure-on-it-ajit-doval-255788"> international financial system</a>. The 30-year-old body works on the consensus of its member countries.

Watch: WION's Kartikay Sharma on FATF's decision on Pakistan

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Pakistan was put on the grey list by the FATF last year and is causing a loss of $10 billion to Pakistani economy annually. A blacklist will further have a detrimental impact on Pakistan's weak economy as investors won't be keen to invest in a country that is prone to terror financing.

Earlier this month, Asia pacific group (APG) of the Financial Action Task Force had released the mutual evaluation report of Pakistan taken up during the August meet in Australia in which the country had not done well. &nbsp;

The report had even said that Islamabad hasn't taken sufficient action to implement sanctions under the United Nation Security Committee of 1267 on 26/11 mastermind Hafiz Saeed and country "faces significant money laundering and terror financing risks".

Pakistan will remain on the FATF's grey list till February 2020 and has been asked to fulfil its commitments by that time period. Most members expressed serious concern on Pakistan's progress on its anti finance terror commitments.

Pakistan will remain on the FATF's grey list till February 2020 and has been asked to fulfil its commitments by that time period. Most members expressed serious concern on Pakistan's progress on its anti finance terror commitments. The outcome comes after a week-long meet of the FATF's plenary in Paris which started on Monday. A five-member Pakistani team, led by Hammad Azhar, Federal Minister for Economic Affairs of Pakistan, is in Paris for the meet. FATF is a technical body with the aim to protect the international financial system. The 30-year-old body works on the consensus of its member countries. Watch: WION's Kartikay Sharma on FATF's decision on Pakistan × Pakistan was put on the grey list by the FATF last year and is causing a loss of $10 billion to Pakistani economy annually. A blacklist will further have a detrimental impact on Pakistan's weak economy as investors won't be keen to invest in a country that is prone to terror financing. Earlier this month, Asia pacific group (APG) of the Financial Action Task Force had released the mutual evaluation report of Pakistan taken up during the August meet in Australia in which the country had not done well. The report had even said that Islamabad hasn't taken sufficient action to implement sanctions under the United Nation Security Committee of 1267 on 26/11 mastermind Hafiz Saeed and country "faces significant money laundering and terror financing risks".

Pakistan remains on FATF grey list, asked to fulfil its commitments by February 2020

There seems to be no relief for Pakistan from the financial action task force. Wion has learnt from sources in Pakistan that the country will remain on the FATF grey list.

The Pakistan government has been asked by the global money-laundering watchdog to complete the implementation of its action plan at the earliest.

But for now - the country will reportedly stay on the list till the next plenary session in February 2020.

An official announcement by the body is expected to be made tomorrow which is the last day of its ongoing session.

Remember Pakistan was placed on the grey list by the Paris-based watchdog in June last year and was given a plan of action to complete it by October 2019 — or face the risk of being placed on the blacklist along with Iran and North Korea.

Now if Pakistan continues in the grey list - it would become very tough for the Imran Khan government to get financial aid from the IMF - the world bank and the European Union - making its existing financial condition more precarious.

There seems to be no relief for Pakistan from the financial action task force. Wion has learnt from sources in Pakistan that the country will remain on the FATF grey list.

There seems to be no relief for Pakistan from the financial action task force. Wion has learnt from sources in Pakistan that the country will remain on the FATF grey list. The Pakistan government has been asked by the global money-laundering watchdog to complete the implementation of its action plan at the earliest. But for now - the country will reportedly stay on the list till the next plenary session in February 2020. An official announcement by the body is expected to be made tomorrow which is the last day of its ongoing session. Remember Pakistan was placed on the grey list by the Paris-based watchdog in June last year and was given a plan of action to complete it by October 2019 — or face the risk of being placed on the blacklist along with Iran and North Korea. Now if Pakistan continues in the grey list - it would become very tough for the Imran Khan government to get financial aid from the IMF - the world bank and the European Union - making its existing financial condition more precarious.

No relief for Pakistan from FATF, formal statement expected on October 18

WION got to know from sources that Pakistan to remain on the grey list of FATF. Pak was placed on this grey list in June 2018. It could remain on this list till Feb. 2020. Formal statements on this are expected tomorrow. Pakistan may lose $10 Bn a year if it stays in the grey list of FATF.

Sources: Pakistan to remain on the 'grey list' of FATF

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