FATF promotes policies to protect the global financial system by evaluating different regions based on its Anti-Money Laundering/Counter Financing of Terrorism and Proliferation standards. The Financial Action Task Force (FATF) has categorised some countries into its grey and black list according to the severity of their involvement in money laundering (ML) and terrorism financing (TF). FATF majorly promotes policies to protect the global financial system by evaluating different regions based on its Anti-Money Laundering/Counter Financing of Terrorism and Proliferation (AML/CFT/P) standards. T…