Pakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List

Pakistan has been on the ‘Grey List’ of the Financial Action Task Force (FATF) – the international money laundering and terror-financing watchdog. Pakistan’s engagement with the task force is not new, the country faced FATF indictments during 2008 and 2012 to 2015. Despite Pakistan’s efforts to cur...

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Autores principales:	Muhammad Idrees, Manzoor Ahmad Naazer, Hashmat Ullah Khan
Formato:	article
Lenguaje:	EN
Publicado:	IDEA PUBLISHERS 2020
Materias:	FATF Blacklist Grey List White List Strategic Deficiency Diplomacy Social Sciences H Political science J
Acceso en línea:	https://doaj.org/article/cde2677939124bfcbb2df50ace8f68ea
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spelling	oai:doaj.org-article:cde2677939124bfcbb2df50ace8f68ea2021-11-04T15:45:39ZPakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List10.47264/idea.lassij/4.2.322664-8148https://doaj.org/article/cde2677939124bfcbb2df50ace8f68ea2020-12-01T00:00:00Zhttps://ideapublishers.org/index.php/lassij/article/view/245https://doaj.org/toc/2664-8148 Pakistan has been on the ‘Grey List’ of the Financial Action Task Force (FATF) – the international money laundering and terror-financing watchdog. Pakistan’s engagement with the task force is not new, the country faced FATF indictments during 2008 and 2012 to 2015. Despite Pakistan’s efforts to curb AML for CFT and huge diplomatic commitments, the task force retained Pakistan on the ‘Grey List’ on account of its Risk Profile. Though other countries get clearance after fulfilling 80 percent compliance but Pakistan has been pressurized for a hundred percent compliance with the action plan. There are severe drawbacks for being remained in the grey list for banking system, export and imports, remittances, international lending and foreign investments but the most severe would be its dropping into blacklist. The September, 2020 Legislation would help gathering diplomatic support in the forthcoming settings. The supportive role-played so for by China, Turkey, Malaysia at the task force has worked in averting Pakistan from blacklisting. Therefore, the study suggests that powerful diplomacy can break the FATF clutches and get Pakistan out of the ‘strategic deficiencies list’ or grey list. Explorative, historical and analytical conclusions have been brought in content analysis format. Muhammad IdreesManzoor Ahmad NaazerHashmat Ullah KhanIDEA PUBLISHERSarticleFATFBlacklistGrey ListWhite ListStrategic DeficiencyDiplomacySocial SciencesHPolitical scienceJENLiberal Arts and Social Sciences International Journal, Vol 4, Iss 2 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	FATF Blacklist Grey List White List Strategic Deficiency Diplomacy Social Sciences H Political science J
spellingShingle	FATF Blacklist Grey List White List Strategic Deficiency Diplomacy Social Sciences H Political science J Muhammad Idrees Manzoor Ahmad Naazer Hashmat Ullah Khan Pakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List
description	Pakistan has been on the ‘Grey List’ of the Financial Action Task Force (FATF) – the international money laundering and terror-financing watchdog. Pakistan’s engagement with the task force is not new, the country faced FATF indictments during 2008 and 2012 to 2015. Despite Pakistan’s efforts to curb AML for CFT and huge diplomatic commitments, the task force retained Pakistan on the ‘Grey List’ on account of its Risk Profile. Though other countries get clearance after fulfilling 80 percent compliance but Pakistan has been pressurized for a hundred percent compliance with the action plan. There are severe drawbacks for being remained in the grey list for banking system, export and imports, remittances, international lending and foreign investments but the most severe would be its dropping into blacklist. The September, 2020 Legislation would help gathering diplomatic support in the forthcoming settings. The supportive role-played so for by China, Turkey, Malaysia at the task force has worked in averting Pakistan from blacklisting. Therefore, the study suggests that powerful diplomacy can break the FATF clutches and get Pakistan out of the ‘strategic deficiencies list’ or grey list. Explorative, historical and analytical conclusions have been brought in content analysis format.
format	article
author	Muhammad Idrees Manzoor Ahmad Naazer Hashmat Ullah Khan
author_facet	Muhammad Idrees Manzoor Ahmad Naazer Hashmat Ullah Khan
author_sort	Muhammad Idrees
title	Pakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List
title_short	Pakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List
title_full	Pakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List
title_fullStr	Pakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List
title_full_unstemmed	Pakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List
title_sort	pakistan and the fatf: exploring the role of diplomacy in getting off the grey list
publisher	IDEA PUBLISHERS
publishDate	2020
url	https://doaj.org/article/cde2677939124bfcbb2df50ace8f68ea
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Pakistan and the FATF: Exploring the Role of Diplomacy in Getting off the Grey List

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