khadija shoukat

Many of us do not know that there exists an inter-governmental body with a motto to combat money laundering and terrorist financing. This body being called as FATF (Financial Action Task Force) works by reviewing the money laundering and terrorist financing, promoting the adoption and implementation of legal, regulatory and operational measures globally for combating money laundering and terrorist financing. It identifies national level vulnerabilities and protect the international financial system form misuse. After its establishment in 1989 many countries became its member. Currently there are 37 members of FATF including UK, USA, India, Turkey and so on. However, Pakistan does not hold its membership. But now owing to Pakistan being regarded as the one with weak jurisdiction, it has been put up on  the FATF's grey list.  Grey list embodies those countries that according to FATF's review has jurisdictions with weak measures to combat money laundering and terrorist fina...