ISLAMABAD: The Pakistan government will apprise the Financial Action Task Force (FATF) regarding measures taken on FATF’s recommendation through its third report by April 15.
The third compliance report will be forwarded to the FATF by the start of next week and it will subsequently be reviewed by the watchdog force during its meeting scheduled in May.
The FATF will thoroughly examine the measures taken by Pakistan to assess whether they supplement the watchdog’s recommendations and comprise actions needed to curb terror financing.
Read: Pakistan warns against using FATF as political tool
The Pakistani authorities had last month briefed the delegation of Financial Action Task Force on laws against money laundering and its regulations in Islamabad.
The FATF had placed Pakistan on a money laundering “grey list” early in 2018 but given it time to take action against further downgrade.
“Since June 2018, when Pakistan made a high-level political commitment to work with the FATF to strengthen its anti money laundering/combating financing of terrorism regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has taken steps towards improving the regime, including by operationalising the integrated database for its currency declaration regime,” the body said in a statement.
In order to qualify for a de-listing, the FATF has urged that, Pakistan should continue to work on implementing its action plan to address its strategic deficiencies.
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