“Pakistan to remain on grey list”, FATF President

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“Pakistan to remain on grey list”, FATF President

News Desk: 

The Financial Assistance Task Force (FATF) has kept Pakistan on the grey list after the country compiled with 21 out of 27 points of the action task force. Pakistan would remain on the grey list till February 2021, the financial watchdog’s president said on Friday.

FATF President Marcus Pleyer announced the decision at a virtual press conference held after the body’s three-day plenary session came to an end today. The global watchdog reviewed Pakistan’s progress on the 27-point action plan for addressing anti-money laundering and terror financing in its plenary session that started on October 21.

In a statement issued after the plenary session concluded, the financial watchdog said: “To date, Pakistan has made progress across all action plan items and has now largely addressed 21 of the 27 action items. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021.” The statement added that Pakistan needed to work on four areas to “address its strategic deficiencies”. These include:

“Pakistan to remain on grey list”, FATF President

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