India to give intel on Pak camps to FATF

Context

The Indian authorities are planning to apprise the Financial Action Task Force (FATF) of the latest evidence related to the terror bases in Pakistan that were destroyed by the defence forces during the precision attacks as part of Operation Sindoor, in the aftermath of the Pahalgam terror attack.

What is FATF?

The Financial Action Task Force (FATF) is an intergovernmental policy-making body established in 1989 to fight money laundering, terrorist financing, and other related threats to the integrity of the international financial system.
Headquarters: Paris, France
FATF works by setting global standards and monitoring compliance through peer reviews.
Membership: It is a 40-member body. India became a member of FATF in 2010.
When a country fails to meet these standards, it may be placed either on the:
- Black List: It is given to the countries that FATF considers uncooperative tax havens. These countries are known as Non-Cooperative Countries or Territories (NCCTs).
- Grey List: It is a warning given to the country that it might come on the Black list.
Grey List countries face increased financial scrutiny, reputational damage, and often economic consequences like reduced foreign investment or stricter IMF lending conditions.
Pakistan’s FATF History:
2008: Pakistan was grey-listed for the first time.
2009: It was removed after commitments to reform.
2012–2015: Again grey-listed for failing to act against terror networks.
2018–2022: Grey-listed due to failure to prosecute UN-designated terror groups like JeM and LeT.
October 2022: Removed after showing “significant progress,” but FATF urged Pakistan to keep cooperating with the Asia Pacific Group (APG) for reforms in its AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism)