The Financial Action Task Force (FATF), an international body working against money laundering and terrorist financing, announced this evening whether it would put Pakistan on its gray list or remove it from the gray list Will go
After the conclusion of the FATF virtual meeting in Paris on Friday, FATF President Marcus Player will address a press conference in which he is expected to announce a decision on Pakistan as well.
The Financial Action Task Force is meeting from October 21 to October 23 and this time it is being held on the virtual internet due to the Corona epidemic.
The meeting is reviewing Pakistan's progress on the 27-point action plan issued by the FATF on Friday to curb terrorism and money laundering.
Earlier, in June 2018, the Financial Action Task Force (FATF) proposed a strategy for Pakistan by including it in the gray list for not taking effective measures to curb terrorism and money laundering. May be out of the gray list.
Pakistan has passed about 15 new laws in parliament this year to pave the way for the country's exit from the FATF's gray list.
In the last meeting, FATF had announced that Pakistan has implemented 14 action points.
It is to be noted that Pakistan is not a member of FATF but many of its allies like Saudi Arabia, Malaysia, China and Turkey are members of this organization, which is why in recent days Pakistan's Foreign Minister Shah Mehmood Qureshi has visited these countries. Had contacted the foreign ministers of
Last month, the Asia Pacific Group (APG), a subsidiary of the FATF, in its follow-up report ranked two of Pakistan's 40 recommendations as inadequate, placing the country in the category of high and fast follow-up. Under the Act, a country has to submit a performance review after three months.
According to the new report, Pakistan has not made any significant progress in the last one year and nine recommendations have been implemented, while 25 recommendations have been partially implemented and four have not been implemented at all.
