FATF awarded another lifeline to Pakistan

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The Financial Action Task Force (FATF) on Friday gave yet another lifeline to Pakistan. Decided to retain the country in its grey list for four more months.

Pakistan avoided again to be placed in blacklist. Previously, Pakistan must have to fully implement its 27-point action plan till June 2020 deadline. Currently, Pakistan has made significant progress on 21 points of the plan.

The FATF strongly urged Pakistan to swiftly fulfill its complete action plan by February 2021”.

In June 2018, Pakistan included among the 16 other countries under increased monitoring. Due to deficiencies in their anti-money laundering (AML) and combating financing of terrorism (CFT) framework.

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“Pakistan’s continued political commitment has led to progress in a number of areas in its action plan,” said the FATF.

However, Pakistan still needs to enhance its efforts in a lot other areas also, especially control on the terror financing.

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