FATF to review Pak's performance on global commitments to fight terror in June in China
- Posted By
10Pointer
- Categories
World Affairs
- Published
7th Apr, 2020
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- Global anti-money laundering watchdog FATF will review Pakistan's performance to meet international commitments in the fight against terror financing during a meeting scheduled to be held in China in June.
- Paris-based Financial Action Task Force (FATF) is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
- Currently placed on the FATF's 'grey list', Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
- In February, the FATF gave Pakistan a four-month grace period to complete its 27-point action plan against money laundering and terror financing committed with the international community when it noted that Pakistan had delivered on 14 points and missed 13 other targets.
- FATF strongly urged Pakistan to swiftly complete its full action plan by June 2020 or else it would be moved to the list of monitored jurisdictions, commonly known as a blacklist.
