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Source: BS Context: To further tighten its control of practising accountants, the Centre has brought within the ambit of the PMLA their “financial transactions”. What are the new rules? Chartered accountants, company secretaries, etc., will now be required to go through the Know Your Company (KYC) process before commencing work. This implies …
Continue reading “Prevention of Money Laundering Act (PMLA)”
GS Paper 3 Syllabus: Money laundering-related issues Source: IE Context: The Finance Ministry has amended the Prevention of Money Laundering Act (PMLA) and rules in line with the recommendations of the FATF – the global money laundering and terrorist financing watchdog. Background: The government has been struggling to deal with the pandemic-era upsurge …
Continue reading “Amendments to PMLA rules and its impact on ‘politically exposed persons’, NGOs”
InstaLinks : help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …
Continue reading “[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 28 February 2023”
GS Paper 2 Syllabus: International Relations, Security Challenges and their Management in Border Areas – Linkages of Organized Crime with Terrorism Source: TH Direction: The article highlights the significance of international counterterrorism cooperation to curb terrorist threats and dismantle terror infrastructure. Context: The UN Security Council’s (UNSC) 1267 Al Qaeda Sanctions Committee added …
Continue reading “Blacklisting of terrorists: What does this mean?”
Source: The Hindu Prelims: Current events of international importance, Bilateral relations, Important International Institutes, FATF(Grey list, black list) Mains GS Paper II: Significance of Important International Institutes, India-Pakistan relations. ARTICLE HIGHLIGHTS Ahead of the plenary session of the Financial Action Task Force(FATF), the global financial crime watchdog, Pakistan which continues to face an economic …
Continue reading “EDITORIAL ANALYSIS: The FATF and Pakistan’s Position”
GS Paper 2: Syllabus: Important International institutions, agencies and fora, their structure, mandate. Context: Pakistan is hoping for some reprieve as the international watchdog Financial Action Task Force (FATF) will begin meetings in Berlin ahead of its plenary session. Background: Pakistan was put on the grey list by the Paris-based FATF in June …
GS Paper 2: Topics Covered: Indian and its neighbourhood. Important International institutions, agencies and fora, their structure, mandate. Context: Pakistan’s efforts to investigate and prosecute leaders of UN-designated terror groups in order to counter terror financing will be assessed during the ongoing meetings of the Financial Action Task Force (FATF) in Paris. The multilateral …
Introduction: India has once again asked Pakistan to take credible and irreversible steps to end its state-sponsored terrorism and dismantle the terrorist infrastructure in its territories. The Permanent Mission of India at the UN hit out against Pakistan while exercising its right of reply at the 48th session of UNHRC. Last week …
Continue reading “SANSAD TV: PERSPECTIVE : PAK’S TERROR LINKS”
GS Paper 3 Topics Covered: Money laundering related issues. Context: The Financial Action Task Force (FATF) has moved Mauritius out of its grey list. Why is Mauritius no longer subject to FATF’s increased monitoring process? Mauritius has strengthened the effectiveness of its anti-money laundering and terror financing process, and has addressed related technical …
Continue reading “What Mauritius exiting FATF grey list means for India?”
GS Paper 2: Topics Covered: Important International institutions, agencies and fora, their structure, mandate. Context: The Financial Action Task Force (FATF) has added Turkey, along with Jordan and Mali, in its revised list of “jurisdictions under increased monitoring”, also known as the FATF grey list. There are now 23 countries in the list. What …
GS Paper 2 Topics Covered: Important International Institutions. Context: Pakistan will continue to be on the ”Grey List” of the FATF as it needs to “further demonstrate” that action is being taken against UN-designated terrorists like India’s most wanted Hafiz Saeed and Masood Azhar, and groups led by them. What next? On the …
Context: External Affairs minister of India S. Jaishankar made a pitch for greater coordination between counter terrorism agencies worldwide. In his speech to the UN Security Council (UNSC) marking 20 years since the resolutions that announced a global commitment to the war against terror after the U.S. 9/11 attacks. Urging UN Security Council members …
Continue reading “Insights into Editorial: Terror trail: On Pakistan action against terrorists”
Topics Covered: Important International institutions, agencies and fora, their structure, mandate. Financial Action Task Force (FATF): Why in News? FATF recently held its annual joint experts’ meet. It was attended by participants from various government agencies all over the world and international bodies such as the United Nations, the International Monetary Fund, the World Bank and …
Topics Covered: Important International institutions, agencies and fora, their structure, mandate. Financial Action Task Force (FATF): Context: FATF is all set to decide on Pakistan’s grey list status in a virtual meeting scheduled later this month. It had placed Pakistan on the grey list in June 2018. Basics: About FATF: What is it? The Financial …
Introduction: In an attempt to be dropped from the Financial Action Task Force’s grey list, Pakistan has banned 88 new terrorists, in compliance with the new list issued by the United Nations Security Council (UNSC). The banned terrorists include Hafiz Saeed, Masood Azhar and Dawood Ibrahim. Paris-based FATF put Pakistan on the grey list …
Continue reading “RSTV: THE BIG PICTURE- FATF AND PAKISTAN’S TERROR LIST”
Topics Covered: Important International institutions, agencies and fora, their structure, mandate. Pakistan to remain on FATF grey list Context: Pakistan is likely to remain on the grey list of the Financial Action Task Force (FATF) for failing to comply with the global terrorist financing watchdog’s deadline to prosecute and penalise terrorist financing in the country. What’s …
Topics Covered: Indian and its neighbourhood. Important International institutions, agencies and fora, their structure, mandate. Financial Action Task Force (FATF) What to study? For Prelims: FATF, Grey list, G7. For Mains: What is Grey list and Black list, how are countries in the list affected? Context: The decision by a Pakistani court in Sindh to …
Insights into Editorial: Black and grey: On terror funding and Pakistan Context: The deliberations, in Beijing, of the Asia-Pacific joint group of the global watchdog on terror financing and money laundering, the Financial Action Task Force (FATF), gave Pakistan some encouraging news: that it had progressed in its efforts to avoid a blacklisting. A final …
Continue reading “Insights into Editorial: Black and grey: On terror funding and Pakistan”
RSTV: THE BIG PICTURE- TACKLING TERROR FINANCE Introduction: In the wake of the dastradly terror attack in Pulwama carried out by Pakistan based terror outfit Jaish-e-Mohammad , India had upped the ante against Pakistan on the issue of terror funding by pushing to blacklist the neighbouring country at the plenary meeting of the anti …
Continue reading “RSTV: THE BIG PICTURE- TACKLING TERROR FINANCE”
