Saturday, July 31, 2021

FATF to decide today whether Pakistan stays in ‘grey list’

Asia Pacific Group (APG) of global terror funding watchdog – Financial Action Task Force, FATF will be deciding today whether Pakistan stays in the ‘grey list’ in its plenary session.

Pakistan was put on the grey list by the Paris-based FATF in June 2018 and the country has since been struggling to come out of it. The Asia Pacific Group (APG) is a regional affiliate of the FATF. The second Follow-Up Report on Mutual Evaluation of Pakistan released by the APG also downgraded the country on one criteria.

Earlier this month, FATF retained Pakistan on “enhanced follow-up” list. According to media reports, Islamabad continued to report back to Asia Pacific Group on Money Laundering on the country’s progress to strengthen its implementation of anti-money laundering and combating financing terror measures.

Pakistan’s Dawn newspaper had reported that overall, Pakistan is now fully ‘compliant’ with seven recommendations and ‘largely compliant’ with 24 others. The country is ‘partially compliant’ with seven recommendations and ‘non-compliant’ with two out of a total 40 recommendations.

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