Russia has been sidelined as a FATF member due to its invasion of Ukraine. (File)
The Financial Action Task Force (FATF) today rebuked Russia for its invasion of Ukraine. The global terror financing watchdog also took Pakistan off the 'grey list' four years after it was placed on the list for the financing of terrorism.
Here are 5 major announcements the FATF made today:
- Financial Action Task Force (FATF) today took Pakistan off the "grey list" as the country has made "significant progress in improving anti-money laundering, combating financial terrorism".
- Nicaragua has also been taken off the "grey list" of FATF.
- Russia has been sidelined as a FATF member due to its invasion of Ukraine.
- Condemning Russia's invasion of Ukraine, FATF today said that additional restrictions would be imposed on the country. Russia has also been barred from current and future projects of FATF.
- For the first time, the FATF put Myanmar in the "high-risk jurisdictions subject to a call for action", often referred to as the watchdog's black list.
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