FATF Pakistan

 

Strong hope that Pakistan will be removed from the FATF gray list this year.

The FATF put Pakistan on the dim rundown in June 2018 and requested Islamabad to execute an arrangement from activity to check tax evasion and dread financing before the finish of 2019, yet the cutoff time was stretched out later on because of the Covid-19 pandemic. 

The Financial Action Task Force (FATF) is the worldwide illegal tax avoidance and fear monger financing guard dog. The legislative body sets global norms that plan to forestall these criminal operations and the damage they cause to society. ... The FATF additionally attempts to quit financing for weapons of mass obliteration.

Pakistan has submitted its latest report to the Financial Action Task Force (FATF) on the progress in counter-terrorism, extremism,  and money laundering measures.

According to official sources, Pakistan has assured to complete the implementation of 27 points of FATF and to complete the progress on the remaining 6 points as soon as possible. There is strong hope for good news this year.

Sources of FATF told that there is hope for good news from the FATF regarding the removal of Pakistan's name from the gray list this year.

According to sources, one-day face-to-face talks were also held between Pakistan and FATF about two to three weeks ago in which the Pakistani delegation was led by Federal Minister Hamad Azhar.

Sources said that Pakistan has handed over the documentary evidence of full implementation of 21 out of 27 points to the authorities while assuring significant progress on the remaining 6 points. 50-70% of 6 point issues have been completed.

Strong hope that Pakistan will be removed from the FATF gray list this year.

Government sources said that Pakistan is implementing the FATF action plan comprehensively and comprehensively. Pakistan has enacted legislation to curb terrorist financing and money laundering. Concrete steps have been taken, which the FATF has acknowledged.

According to officials, over the past two years, Pakistan has rapidly implemented the FATF Action Plan, fully or partially implementing all 27 FATF conditions and any of the 27 conditions. Not incomplete -

According to officials, in January 2019, Pakistan completed only one condition, partial implementation of one and 25 conditions were incomplete, while in June 2019, Pakistan completed two conditions, partial implementation of 12 and incomplete 12 conditions.

Similarly, in October 2019, Pakistan fulfilled 5 conditions, 17 partial implementations, and 5 conditions were incomplete, while in February 2020, Pakistan fulfilled 14 conditions, 11 partial implementations, and 2 conditions were incomplete. Completed the conditions and partially implemented 6 conditions and no condition remained incomplete.