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FATF Announces date of Important meeting regarding Pakistan’s Ranking

Asia-Pacific Group issues report on Pakistan’s recommendations for the Financial Action Task Force (FATF). According to the report, Pakistan has made progress on 36 of the 40 proposals by the Financial Action Task Force (FATF), a global financial aid and money laundering prevention organization.

The report said that Pakistan showed complete, partial and large-scale progress on key points. The next meeting of the Financial Action Task Force will be in Paris from October 13 to 18 to determine Pakistan’s ranking.

Remember that FATF had given Pakistan time to implement the Action Plan by October 2019. Earlier last June, the FATF expressed reservations over Pakistan’s action plan. Financial Action Task Force calls for Pakistan to stop terrorist financing, increase surveillance of sensitive cases and tighten monitoring of illegal capital and property transfers.

The Financial Action Task Force has 37 members, including the United States, the United Kingdom, China, India and Turkey, 25 countries, the Gulf Cooperation Council and the European Commission, but Pakistan is not a member. The organization’s primary responsibilities are to take steps to prevent global money laundering and terrorist financing.

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