Abstract:
In 2018, the Financial Action Task Force (FATF) put
Pakistan on the so-called ‘grey list’ for not taking sufficient
actions against money laundering and terror financing.
Financing has represented a noteworthy challenge in
tackling the scourge of terrorism, as it is fundamental in
directing all terrorism-related activities. Though Pakistan
had taken numerous actions regarding Anti-Money
Laundering (AML) and Counter Terror Financing (CTF),
still there are many gaps in its existing AML/CTF framework.
In this vein, this paper tries to comprehend money laundering
and terror financing mechanisms, together with their origins
and impacts in general and on Pakistan specifically.
Moreover, the paper discusses the role of FATF, Pakistan’s
efforts to fulfill its recommendations and way forward.
