The Financial Action Task Force (FATF) has decided in principle that Pakistan will remain on its grey list till next February and directed Islamabad to take ‘extra measures’ for ‘complete’ elimination of terror financing and money laundering, FATF President said in a press conference on Friday (Oct 18).
An FATF meeting in Paris on Tuesday reviewed the measures that Islamabad has already taken to control money laundering and terror financing. However, the meeting observed that Islamabad will have to take further steps in these four months. The FATF has linked the blacklisting of Pakistan with unsatisfactory steps to curb money laundering and terror financing. The FATF will make final decision in Feb 2020.
The task force directed Islamabad to take more measures for complete elimination of terror financing and money laundering. “The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020,” it said in a statement. “Otherwise, should significant and sustainable progress not be made across the full range of its action plan by the next Plenary, the FATF will take action.”
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