Paris, 23 February 2022 (TDI): As the Financial Action Task Force (FATF) Plenary and Working Group Meetings start in Paris from Monday, all eyes are on Pakistan as it would look to come out from the “grey list” of worldwide anti-terrorist financing and anti-money laundering monitoring.
The Financial Action Task Force is set to analyze Pakistan’s growth on its action plan when the body meets for its plenary meeting, which will start from 22 February. This meeting is anticipated to make a final decision on whether to keep Pakistan on its “grey list” or move it out.
Financial Action Task Force has given Pakistan sufficient time to make improvements on the action plan handed to the State. The State was placed on the grey list in June 2018 for failing to implement operative measures to stop terror financing and money laundering in the country.
In the previous meeting of the Financial Action Task Force in October 2021, Pakistan was again engaged on the “grey list” because it was unsuccessful to indict and remove the resources of UN-designated terrorists.
FATF officials had also noted that Pakistan was still deteriorating to efficiently implement the worldwide FATF standard across numerous areas, creating a high risk of money laundering.
Mentioning the action plan formulated in 2018 which focused on terror funding, the FATF President had stated that Pakistan was still measured to have largely addressed 26 out of 27 items, Islam Khabar reported.
Pakistan will once again present its case when the FATF holds its Plenary Session in Paris from 21 February to 4 March 2022. The key effort will be to convince the Financial Action Task Force body that it has brought on all the high-level promises it had completed.
Not just in terms of constriction of the domestic laws and regulations but also in terms of effectively penalizing people involved in money laundering and terror funding.
 Plenary and Working Group Meetings start in Paris from Monday...Read more){kind=link}