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

Muhammad Amin, Ayesha Gul, Shabana Akhtar and Arab Naz
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Muhammad Amin: Lecturer, Government Postgraduate College Sariab Road Quetta
Ayesha Gul: Assistant Professor, Social Work Department SBK Women's University Quetta, Pakistan
Shabana Akhtar: Pakistan Study Department SBK Women's University Quetta, Paksitan
Arab Naz: Dean Faculty of Social Sciecnes, University of Mlalakand Khyber Pakhtunkhwa Pakistan

Journal of Policy Research (JPR), 2022, vol. 8, issue 3, 473-480

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. This study will analyze the critical role of the FATF. It will also check the role of the FATF as a political ploy in the international arena. It will give findings after analyzing the efficiency of the FATF through scientific research methods, based on primary and secondary data.

Keywords: Money Laundering; Grey list; Mandate; Recommendations; Terrorist Financing (search for similar items in EconPapers)
Date: 2022
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