FATF decides to keep Pakistan on the Gray List
According to the news, the Financial Action Task Force (FATF) had to implement 27 points in Pakistan, of which one was left to be implemented by Pakistan. However, the FATF once asked Pakistan to implement it. Then it is decided to keep it in the gray list. Federal Minister Hamad Azhar will also hold a press conference in this regard shortly.
FATF appreciated Pakistan's performance and said that Pakistan was implementing the action plan, but it would be maintained in the gray list for the next four months. Sources said that Pakistan has implemented 26 out of 27 points, but FATF has demanded from Pakistan to give exemplary punishments to the accused of money laundering and terra financing. And action against those involved in money laundering and financing.
It should be noted that Pakistan was included in the FATF gray list in 2018. The FATF had to implement 27 points for Pakistan and till the last meeting, Pakistan had 24 points, and before the recent meeting 26 points. The points were implemented. Pakistan received a compliant rating in accordance with 31 of the FATF's 40 recommendations and was included in the Asia-Pacific Group's expanded 'follow-up list', followed by Pakistan's gray list. The chances of getting out were bright.
Part of the FATF's recommendations includes legislation and its implementation, for which Pakistan has worked on 14 legal points in the past year, as well as FATF's recommendations on customs, money laundering, and terrorism financing. The conditions have been met.
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