What will be outcome in case if Pakistan get blacklisted by Fatf in Feb 2020?

[desprado]

What will be outcome in case if Pakistan get blacklisted by Fatf in Feb 2020?

I hearing all kind of things that people cannot send remittance out side of the country or they cannot even send in Pakistan. No international transactions and no export or trade in Pakistan.

PKR value could shot up to 400 against dollar.

Pakistan was blacklisted in 2008 to 2010 and again in 2012 to 2014. What was the impact than and why so much doom and gloom now?

 

[manigamer]

What will be outcome in case if Pakistan get blacklisted by Fatf in Feb 2020?

I hearing all kind of things that people cannot send remittance out side of the country or they cannot even send in Pakistan. No international transactions and no export or trade in Pakistan.

PKR value could shot up to 400 against dollar.

Pakistan was blacklisted in 2008 to 2010 and again in 2012 to 2014. What was the impact than and why so much doom and gloom now?

i dunno about being blacklisted in 2008 to 2010 but dolar rate was much low in that era if it was blacklisted .

 

[desprado]

i dunno about being blacklisted in 2008 to 2010 but dolar rate was much low in that era if it was blacklisted .

No i mean some media are reporting that Pakistan cannot do trade like import or export. Pakistani living outside or inside cannot to do translocation internationally. Our currency will have no value internationally according to experts.

 

[golabucha]

What will be outcome in case if Pakistan get blacklisted by Fatf in Feb 2020?

I hearing all kind of things that people cannot send remittance out side of the country or they cannot even send in Pakistan. No international transactions and no export or trade in Pakistan.

PKR value could shot up to 400 against dollar.

Pakistan was blacklisted in 2008 to 2010 and again in 2012 to 2014. What was the impact than and why so much doom and gloom now?

Pakistan was never blacklisted instead it was put on grey list as it is now . If you are put on blacklist you cannot do any foreign transaction whatsoever as is the case with North Korea and Iran . Nobody from outside can pay you money for your services .visa and mastercard will simply pack up their bags and leave .your debit cards ,credit cards will be cut off from transactions outside the country .

 

[nightfury11]

Pakistan was never blacklisted instead it was put on grey list as it is now . If you are put on blacklist you cannot do any foreign transaction whatsoever as is the case with North Korea and Iran . Nobody from outside can pay you money for your services .visa and mastercard will simply pack up their bags and leave .your debit cards ,credit cards will be cut off from transactions outside the country .

Does that mean trouble for freelancers?

 

[golabucha]

Does that mean trouble for freelancers?

Yes it very much does.

 

[golabucha]

https://youtu.be/U0G8ZWNKe5Y
this tells us a good story about how our media is blackouting the serious issue

 

[Radz]

You have to survive pretty much on your own if you get blacklisted. Iran is blacklisted, They don't have access to Master/Visa Card Payment system. You get $1 by exchanging a whopping 40K+ in Iranian Currency.

North Korea is also blacklisted, They are pretty much disconnected from world.

 

[rafay22]

The fk is happening in this country :/

 

[poakceor]

it won't get blacklisted

 

[GloriousChicken]

Chances are pretty low.
But in case it does get black listed.

Say bye bye to all the foreign businesses that have directly invested and managed their money/investment/establishment.
Trouble for gamers.
Trouble for freelancers.
Trouble for Pakistani business that have invested globally.
Trouble for Pakistani import.


But, they can still manage through back-end channel.
I mean, since when were we entirely legal anyway.

 

[Chandoo]

Good for people sending money *to* Pakistan from the US.

Exchange rate through the roof.

 

[desprado]

Chances are pretty low.
But in case it does get black listed.

Say bye bye to all the foreign businesses that have directly invested and managed their money/investment/establishment.
Trouble for gamers.
Trouble for freelancers.
Trouble for Pakistani business that have invested globally.
Trouble for Pakistani import.


But, they can still manage through back-end channel.
I mean, since when were we entirely legal anyway.

Does Pakistan same problem when we were blacklisted in 2008 to 2010 and again in 2012 to 2014

- - - Updated - - -

Good for people sending money *to* Pakistan from the US.

Exchange rate through the roof.

We were blacklisted by Fatf in 2008 to 2010 and 2012 to 2014 does PKR at time shoot up?

 

[nightfury11]

Does Pakistan same problem when we were blacklisted in 2008 to 2010 and again in 2012 to 2014

- - - Updated - - -

We were blacklisted by Fatf in 2008 to 2010 and 2012 to 2014 does PKR at time shoot up?

No, that's incorrect. We have never been blacklisted. Only Greylisted in the years you mentioned.

 

[desprado]

No, that's incorrect. We have never been blacklisted. Only Greylisted in the years you mentioned.

https://tribune.com.pk/story/337548/pakistan-added-to-money-laundering-blacklist/?amp=1

 

[nightfury11]

https://tribune.com.pk/story/337548/pakistan-added-to-money-laundering-blacklist/?amp=1

http://www.fatf-gafi.org/countries/#Pakistan

"The international watchdog against money laundering and financing of terrorism, the Financial Action Task Force (FATF), has put Pakistan on a list of “jurisdictions with strategic deficiencies”, also known as the grey list.

This is not the first time Pakistan has found itself on one of FATF’s list of not-so-good guys; the country was there in 2008 and from 2012 to 2015."

https://www.dawn.com/news/1418143

"Pakistan was placed on the Grey list in February 2012 on the plea that the country was not fully compliant with the standards for effectively combating the twin menaces."

https://www.dawn.com/news/1166306

 

[desprado]

http://www.fatf-gafi.org/countries/#Pakistan

"The international watchdog against money laundering and financing of terrorism, the Financial Action Task Force (FATF), has put Pakistan on a list of “jurisdictions with strategic deficiencies”, also known as the grey list.

This is not the first time Pakistan has found itself on one of FATF’s list of not-so-good guys; the country was there in 2008 and from 2012 to 2015."

https://www.dawn.com/news/1418143

"Pakistan was placed on the Grey list in February 2012 on the plea that the country was not fully compliant with the standards for effectively combating the twin menaces."

https://www.dawn.com/news/1166306

https://twitter.com/betterpakistan/status/969067253223346176?lang=en