Prelims Syllabus : International Mains Syllabus : Important International institutions, agencies and fora- their structure, mandate.
Theme “Human Centered Future Society”
- Issue to be taken up:
- Digital economy
- Artificial Intelligence
- Global Health
- Marine Plastic
What is DFFT or Data Free Flow with Trust?
- This is a new principle emerging among the global economies where they wish unrestricted, yet accountable flow of data over a localized data.
- It underlying principles are:
- Rather than tell firms where they can store or process data, policymakers should hold firms accountable for managing data they collect, regardless of where they store or process it.
- Countries should revise the inefficient processes and outdated legal agreements that govern law enforcement requests for access to data stored in another country’s jurisdiction.
- Countries should develop the legal and administrative frameworks (with respective checks and balances) that allow Internet service providers to block data flows that involve the illegal distribution and use of unlicensed content.
- Countries should support and not undermine encryption’s role in securing data flows and digital technologies.
Money-laundering and its prevention:
What is FATF?
- The Financial Action Task Force (FATF) is an inter-governmental body
- established in 1989 by the Ministers of its Member jurisdictions.
- The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
- The FATF currently comprises 36 member jurisdictions and 2 regional organisations, representing most major financial centres in all parts of the globe.
- In June 2018, Pakistan was placed in the ‘grey list’ and given a 27 point action plan.
What does this mean for the Country?
- Pakistan’s banking channel could be adversely affected as it is inevitably linked with the international financial system.
- Foreign financial institutions may carry out enhanced checking of transactions with Pakistan to avoid risk of violations pertaining to money laundering and financing of terrorism.
- Another affected is the sentiment of foreign investors.
Which are the other countries in the grey list?
- The other countries on the list, in alphabetical order, are Ethiopia, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.
What is Black List?
- Black list makes more stringent restrictions on the countries in the list. This black list comprises Iran and North Korea.
- The FATF implements UN designations, which do not warrant arrest.
- They ask only to freeze funds, denial of access to weapons and travel embargo