FATF keeps Pakistan off blacklist for now, warns that it can’t take forever
Once FATF’s plenary agrees that all 27 items had been completed, there will be an on-site visit by an assessment team to verify information given.
FATF keeps Pakistan off blacklist for now, warns that it can’t take forever
Once FATF’s plenary agrees that all 27 items had been completed, there will be an on-site visit by an assessment team to verify information given by Pakistan and see that all measures are working effectively. The Financial Action Task Force (FATF) on Friday decided to retain Pakistan on its “grey list”, giving it time till February next year to address what the multilateral watchdog said were “very serious deficiencies” in its efforts to counter terror financing. The decision was announced at the end of FATF’s three-day virtual plenary meeting, and the body’s president, Marcus Pleyer, cautioned that Pakistan would not be given a chance “forever” to address outstanding issues. Repeated failure to deliver on FATF’s action plan would result in a country being put in the “black list”, he said. Pakistan was placed in FATF’s list of “jurisdictions under increased monitoring” or grey list in 2018 for failing to control terror financing and money laundering. In a virtual repeat of the warning is…
