FATF team concludes visit; report on Pakistan to be published on Nov 19

October 22, 2018: The Financial Action Task Force’s (FATF) AGP group has recommended Pakistan to take more steps against terror financing and money laundering activities, and to tighten laws, rules and regulations, and fixing flaws in the mechanism of running institutions in the aftermath of its visit to Pakistan which ended on 20th October.

The international body asked the government to keep a record of transactions, from 3000-15000 US dollars and euros, taking place in the form of assets, gold and other sectors like metal business and law firms.

The FATF team is expected to present its observational report on Pakistan on November 19. Pakistan will also submit its own account on the matter after reviewing the report published by FATF delegation.

The FATF AGP arrived in Islamabad on 8th October for the final negotiations with the authorities in Pakistan. During its 12-day visit, the mission reviewed the administrative and legal measures taken by Pakistan to curb the financial assistance to terrorists.

In June this year, Pakistan vowed to implement the action plan negotiated with the Financial Action Task Force to address concerns of the international community.

Pakistan’s name was placed on the ‘grey list’ during the FATF Plenary session in Paris on June 28.

Posted on: 2018-10-22T12:25:00+05:00