Financial Action Task Force (FATF) and Pakistan: Why Pakistan?

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Financial Action Task Force (FATF) is an international organization having more then 35 member countries and various other member organizations such as IMF and World Bank. The main objective of FATF is to prevent money laundering and terrorist funding. They do this through their guidelines which must be followed by all countries in order to avoid being blacklisted. These guidelines include various steps such as criminalizing money laundering, keeping complete record of financial transactions, monitoring suspicious transactions and cooperating with FATF and other international agencies regarding money laundering and terrorist funding.

That was a brief introduction of FATF. Now! Why Pakistan. Well for one, Pakistan is not a member of FATF. Second, India is a member of FATF and has been lobbing along with USA and other anti-Pakistan countries to include Pakistan into FATF’s grey list. Third, Pakistan has, for many years, been part of FATF’s blacklist. FATF already considers Pakistan non-cooperative country. Fourth, many Pakistani politicians and influential figures are themselves involved in money laundering and tax evasion and would never want to implement strict money laundering and tax laws in Pakistan as it would not be profitable for them.

That is why, my fellow Pakistanis, in June 2018, Pakistan is going to be added into FATF’s grey list.

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