Leading Western banks have been some of the main facilitators of money-laundering. In what is known as FinCEN files scandal, leaked documents involving transactions worth about $2 trillion have already shown how some of the world’s biggest banks allowed criminals to move ill-gotten money around the world. Pakistan has had its interactions with the FATF over the years and is currently placed on the ‘grey list’ apparently for reasons that run deeper than what they look like on the surface. Initially, it was believed to be a neutral body, but later it was exposed as biased because the handpicked developed countries changed its course. Within its scope are efforts to combat money-laundering, terrorism financing and proliferation of weapons of mass destruction. THE Financial Action Task Force (FATF), an inter-governmental body, was founded by the Group of Seven (G7), a bunch of global elite, after the fall of the Soviet Union to pursue the dream of being powerful forever in order to dictate the world at large.
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