This article argues that, in addition to the valid reasons for Pakistan’s greylisting by the Financial Action Task Force (FATF) in 2018, geopolitical dynamics also played a crucial role behind this development. While the United States (US) under the Trump administration pushed Pakistan to seek an end to “the longest war” in Afghanistan, India, hoping to curb cross-border terrorism, capitalized on this momentum to pressure Pakistan. In order to hastily greylist Pakistan, institutional procedures of the FATF were thus disregarded. The case study demonstrates how economic coercion was used to push Pakistan to accept US and FATF demands. This article argues that Pakistan’s greylisting has created a win-for-all scenario for now. But these gains should not be overrated. Pakistan’s implementation of FATF requirements faces significant structural limitations. Still, the consensus between major actors underscores the potential of the FATF to counter money laundering and financing of terrorism globally.

本文认为，除了2018年金融行动任务组（FATF）将巴基斯坦列入白名单的正当理由外，地缘政治动态在这一发展背后也起着至关重要的作用。在特朗普政府领导下的美国推动巴基斯坦寻求结束阿富汗“最长的战争”的同时，印度希望遏制跨境恐怖主义，并利用这一势头向巴基斯坦施加压力。为了草率将巴基斯坦列入灰名单，特遣部队的机构程序因此而被忽略。案例研究表明，经济胁迫是如何被用来推动巴基斯坦接受美国和FATF的要求的。本文认为，巴基斯坦的列入白名单目前已经创造了一个人人共赢的局面。但是，这些收益不应被高估。巴基斯坦执行FATF要求面临重大的结构限制。尽管如此，主要行为者之间的共识仍强调了反洗钱金融行动特别组织在全球范围内打击洗钱和资助恐怖主义的潜力。