Islamabad [ Pakistan], August 31 (ANI): The team of the Financial Action Task Force (FATF) of the global anti-money laundering and terrorism watchdog arrived in Pakistan to determine the country’s steps towards it from the watchdog’s grey list, local media reported. .
The FATF team will visit the headquarters of the Federal Investigation Agency (IDA) and the Anti-Money Laundering Directorate (AML), where the Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Directorate will give a presentation on the implementation of the action plan.
During the visit, the FATF review team will also review the strategy for long-term actions. Based on the report compiled through FATH’s review team, the monetary announcement will be made if Pakistan is removed or removed from the grey list, ARY News reported.
Following the scale of the FATF team, the scale agents were banned from the FIA headquarters.
It is applicable to mention here that the government of Pakistan has established other circles throughout Pakistan, adding the AML Directorate for the implementation of the FATF Action Plan. The circles had sent their reports to the appropriate management, while the applicable knowledge of the ministries involved was also possessed through management, reports ARY News.
On June 17, the FATF said Pakistan would remain on its “grey list” and that a final resolution would be taken to remove it from the list after an “on-the-spot” verification through the Paris-based body.
The resolution announced after the conclusion of the FATF plenary in Berlin, where delegates from governments around the world and partner organizations, including the UN and the IMF, discussed key issues of money laundering and terrorist financing.
“At its June 2022 plenary session, the FATF first decided that Pakistan has almost finished its two action plans, which cover 34 points, and justifies a stop on site to ensure that the implementation of AML/CFT reforms in Pakistan has begun. and is ongoing, and that mandatory political engagement remains in a position for implementation and improvement in the future,” the FATF said in a statement.
“The FATF will continue to monitor the COVID-19 scenario and conduct an on-site inspection as soon as possible,” he added.
Pakistan has been on the grey list of the Paris-based global cash laundering and terrorist financing watchdog for shortcomings in its fight against terrorist financing and cash laundering regimes since June 2018. This grey list has had a negative effect on their imports. , exports, remittances and limited access. International loans.
In June 2021, the country had 3 months to comply with the remaining situations until October. However, Pakistan has been retained on the FATF’s “grey list” for failing to enforce the FATF’s global criteria and for its lack of progress in investigation and prosecution. senior leaders and commanders of UN-designated terrorist groups.
Last March, the FATF called on Pakistan to work on “complex investigations and laundering prosecutions. “(ANI)
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