Oct 28, 2022
Enhance your UPSC CSE preparation with our daily dose of Current Affairs wherein we discuss topics that make news at National and International level.
In today's edition of our Current Affairs, we will discuss What Pakistan's removal from FATF grey list signifies. The topic's relevance to the UPSC CSE syllabus is mentioned below.
For Prelims: Financial Action Task Force (FATF), Inter-governmental body, FATF Recommendations, FATF Standards, Grey List, FATF Blacklist, member of the FATF.
For Mains: Significance of FATF, Expectations from the countries on the grey list, The repercussion of being on the Grey list, and Benefits After Removing a Country from FATF’S Grey List.
Pakistan was the most important country on the Financial Action Task Force (FATF) grey list, but it (along with Nicaragua) was recently taken off the list, and 23 countries remain under watch. A development that has been welcomed across the country of Pakistan.
Explain the working and significance of the Financial Action Task Force (FATF).
Also read: Supreme Court Directions on Hate Speech
FATF Blacklist: This is also called FATF AML deficient list. A blacklisted country may be subject to economic sanctions by a member of the FATF.
Currently Korea, Iran, and Myanmar are the countries on the FATF Blacklist. Myanmar is the most recently added to the list.
Before you move further, watch this video by M.Puri Sir where he discusses 25 most important questions asked in the past 5 years UPSC Prelims exam papers. This video will help you to upgrade your IAS exam preparation significantly:
News Source: The Indian Express
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