loja

1
Financial Action Task Force

• (FATF)

2
CONTENTWhat is FATF?Purpose GroupsGrey
listRecommendations
3
What is FATF?The Financial Action Task Force
(FATF) was established in July 1989 by a Group of
Seven (G-7) Summit in Paris. It is the global
money laundering and terrorist financing
watchdog.  They help authorities go after the
money of criminals dealing in illegal drugs,
human trafficking and other crimes.  The FATF
also works to stop funding for weapons of mass
destruction. The FATF reviews money laundering
and terrorist financing techniques and
continuously strengthens its standards to address
new risks.For example
 regulation of virtual assets, which have spread
as cryptocurrencies gain popularity.
4
Purpose of FATF
5
Overview of its groups
6
FATF grey list

• The 'grey list' means that a country gets limited
  access to international loans. Specifically, it
  means the country has committed to resolving
  swiftly the identified strategic deficiencies
  within agreed timeframes and is subject to extra
  checks.
• Pakistan has been on the grey list of the
  Paris-based Financial Action Task Force (FATF)
  since June 2018 for failing to check money
  laundering, leading to terror financing, and was
  given a plan of action to complete it by October
  2019.

7
Pakistan and FATF

• With Pakistan's continuation on the grey list, it
  is increasingly becoming difficult for Islamabad
  to get financial aid from the IMF, the World
  Bank, the Asian Development Bank (ADB) and the
  European Union, thus further enhancing problems
  for the country.Pakistan has so far avoided being
  on the black list with the help of close allies
  like China, Turkey and Malaysia.

This Photo by Unknown Author is licensed under CC
BY
8
Whats is FATF Recommendation
The FATF Recommendations are the internationally
endorsed global standards against money
laundering and terrorist financing they increase
transparency and enable countries to successfully
take action against illicit use of their
financial system
9
FATF RECOMMENDATIONS

• Assessing risks and applying a risk-based
  approach
• National cooperation and coordination
• Money laundering offence
• Confiscation and provisional measures

10

• Terrorist financing offence
• Targeted financial sanctions related to terrorism
  and terrorist financing
• Targeted financial sanctions related to
  proliferation
• Non-profit organizations

11
(No Transcript)
12
Thank you