FATF session from today, to review Pakistan's efforts on Action Plan

ISLAMABAD: The Financial Action Task Force (FATF) meeting in Paris from today to discuss boosting global action against terrorism financing and crimes.

According to sources, Pakistan will present review of its performance on the matter of terror financing and other issues. ” A decision with regard to change in the status of Pakistan will likely to be decided by April 2022,” sources said.

The task force session will also review the ground realities of Pakistan and implementation on legislation, according to sources. “Any decision with regard to removal/non-removal of Pakistan from the grey list will be taken after it,” sources said.

Sources said that Pakistan has enforced 26 points from the 27-point action plan of the Financial Action Task Force so far to curb money laundering and terrorism financing.

Moreover, the country has also implemented 35 of 40 recommendations of the Asia Pacific Group (APG), the regional partner of the FATF, sources added.

In the previous session, the FATF recognised Pakistan’s progress and efforts to address items in its country action plan that refers to combating terror financing.

The task force however, decided to keep Pakistan on its grey list, handing over six new anti-money laundering areas to work on.

The FATF plenary meeting will be held from October 19 (today) to close at Oct 21.