FATF team reaches Pakistan to verify steps taken to exit grey list
In June this year, FATF found that Pakistan had completed the action plan and hinted at the removal from the grey list conditional to an on-site verification of the steps. The successful on-site visit would pave way for Pakistan to get rid of the grey list.
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FollowThe Financial Actions Task Force (FATF) on Wednesday reached Pakistan to review the implementation of the action plan after which the global money laundering and terrorist financing watchdog would announce whether Pakistan would remain in the grey list or not.
It is reported that the FATF team would visit the headquarters of the Federal Investigation Agency (FIA) and the directorate of Anti-Money Laundering (AML). AML and Combating the Financing of Terrorism (CFT) Directorate would brief the visiting team over the implementation of FATF's action plan.
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It is also said that the FATF team would compile a report after reviewing strategy for future actions, on the basis of which the announcement of removing Pakistan from the grey list or not will be made.
Pakistan has taken solid steps in order to comply with the action plan including the conviction of Sajid Mir by an anti-terrorism court in terror financing that really convinced the members of FATF to acknowledge the progress of Pakistan.
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According to reports, visitors' entry has been prohibited into the FIA headquarters due to the FATF team’s visit.
In June this year, FATF found that Pakistan had completed the action plan and hinted at the removal from the grey list conditional to an on-site verification of the steps. The successful on-site visit would pave way for Pakistan to get rid of the grey list.
According to FATF, Pakistan reportedly completed implementation on all action points and the final decision of removing it from the grey list would be made after on-site verification.
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A FATF statement released after the June meeting had stated that according to initial determination Pakistan had substantially completed the two action plans that covered 34 items and an on-site visit would be conducted for verification of Pakistan’s implementation on AML/CFT reforms to sustain implementation and improvement in the future.
In June 2018, FATF placed Pakistan on its grey list after deficiencies were pointed out in its system to curb terror financing and money laundering. The watchdog had initially given a 27-point action plan but another 7-point plan was handed for compliance with FATF's standards.
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