Financial Action Task Force (FATF) and the Pakistan Stance: An Overview of the Mandate, Charter, Effectiveness in the Political Scenario of Pakistan

Authors

  • Amin Muhammad Corresponding Author, Lecturer Government Postgraduate College Sariab Road Quetta, Pakistan, muhammadamin030@gmail.com Author
  • Gul Ayesha Assistant Professor, Social Work Department SBK Women's University Quetta, Pakistan Author
  • Akhtar Shabana Pakistan Study Department SBK Women's University Quetta, Pakistan Author
  • Naz Arab Dean Faculty of Social Sciences, University of Malakand Khyber Pakhtunkhwa, Pakistan Author

Keywords:

Money Laundering, Grey list, Mandate, Recommendations, Terrorist Financing

Abstract

Money Laundering is a pressing issue globally that poses a great loss to the national economy. Having realized the precarious nature of the issue, the world powers decided to form a collective body to combat money laundering and terror financing called FATF. Which is an inter-governmental body. It aims at combating money laundering, especially drug smuggling. The body expanded its sphere to tackle the new challenges and trends of money laundering. It formulated the parameters called ‘recommendations’ to watch the member and non-member states. After the 9/11 attacks, a major change came in its framework and terrorist financing became part of the FATF mandate. The geopolitical changes in the world are affecting the framework of the body. It began to augment pressure on several states like Pakistan, Iran, and North Korea which will help their opponents to get political benefits.

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Published

2022-09-15

Issue

Vol. 8 No. 3 (2022)

Section

Articles