FATF To Decide Pakistan’s Grey List Fate

By Muhammad JuniadPublished On 04 Jan 2023

NEW YORK: The Financial Action Task Force (FATF) will hold a three-day virtual meeting on Monday to decide whether Pakistan would stay on its Grey List.

Pakistan has forwarded a report of its progress on regulations to curb money laundering and terrorism financing to the global financial watchdog. The country has implemented 21 out of 27 regulations, officials at the Finance Ministry said.

The rest of the points have been implemented up to 70%, they added. Pakistan has made amendments to its FATF law, seized assets of a banned organization,s and taken steps to stop members of these organizations from operating.

It has also made progress on 40 other points apart from the 27 in the FATF action plan.