FATF to examine Pakistan’s progress in plenary meeting on Oct 16-18

INP

6:00 pm | 23 August 2019

The FATF (Financial Action Task Force) will investigate progress on Pakistan's existing plan of action at the General Assembly from October 16 to October 18 in Paris.

FATF officials said Pakistan's efforts on private TV news channels will be thoroughly analyzed at the meeting before further action is taken.

He added that only FATF has the authority to change or blacklist Pakistan.

An official said the Asia Pacific Group (APG) assessed and expressed satisfaction with the effectiveness of Pakistan's measures to prevent money laundering and terrorist financing.

Meanwhile, the APG talks did not mention blacking Pakistan. The FATF said it could not change Pakistan's position because it was only authorized to do so.

The APG meeting also reviewed important reports on Pakistan, Chinese Taipei, Hong Kong, China, the Philippines and the Solomon Islands.

In early June 2018, the FATF designated Pakistan as a & # 39; gray list & # 39; that had not taken action on terrorist financing of soil.

On June 20, the Pakistan Securities and Exchange Commission announced anti-money laundering and anti-terrorism financing in 2018 in accordance with FATF recommendations.

FATF is an intergovernmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.

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Source Link : https://nation.com.pk/23-Aug-2019/fatf-to-examine-pakistans-progress-in-plenary-meeting-on-oct-16-18

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