Can Pakistan get off the FATF gray list? Team to announce decision in October: sources


The Financial Action Task Force (FATF), a global money laundering and terrorism watchdog, which arrived in Pakistan on August 29, has completed verification of the steps Islamabad had to take to meet the exit conditions from the FATF gray list. The 15-member delegation will now decide Pakistan’s fate in October for the whitelist, sources told CNN-News18.

The positive result of the findings of the team on the spot would allow Pakistan to put an end to the shortcomings of the system to fight against money laundering and the financing of terrorism.

The FATA team, which received a state guest protocol, remained in the country from August 29 to September 2, official sources told CNN-News18.

According to top Indian intelligence sources, FATF compliance is “eyewash” as Pakistan continues to infiltrate PoK areas.

The Pakistani authorities have established various circles across Pakistan including the AML Directorate for the implementation of the FATF Action Plan. The circles had sent their reports to the relevant leadership, while the relevant data from the relevant ministries was also owned by the leadership, according to local media in Pakistan.

On June 17, the FATF said Pakistan would continue to remain on its “grey list” and that a final decision to remove it from the list would be taken after an “on-site” verification visit by the Paris-based body. .

The move was announced after the conclusion of the FATF Plenary in Berlin, where delegates from governments around the world and partner organizations including the UN and IMF discussed key money laundering issues. money and terrorist financing.

“During its June 2022 Plenary, the FATF initially determined that Pakistan has substantially completed its two action plans, covering 34 points, and warrants an on-site visit to verify that the implementation of the AML/ FT in Pakistan has started and is on track to be sustainable and that the necessary political commitment remains in place to support implementation and improvement in the future,” the FATF said in a statement.

“The FATF will continue to monitor the Covid-19 situation and will conduct an on-site visit as soon as possible,” he added.

Pakistan has been on the gray list of the Paris-based global money laundering and terrorist financing watchdog for shortcomings in its counter-terrorism financing and anti-money laundering regimes since June 2018. This gray listing has had a negative impact on its imports, exports, remittances and limited access. international loans.

In June 2021, Pakistan was given three months to fulfill the remaining conditions by October. However, Pakistan has been retained on the FATF “grey list” for failing to effectively implement FATF global standards and for its lack of progress in investigating and prosecuting top leaders and commanders of terrorist groups. designated by the United Nations.

(With ANI entries)

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