Pakistan to remain under ‘grey list’ until next FATF meeting in April 2022

Prime News, International, Finance, Terrorism, Islamabad, Oct 22:- The Financial Action Task Force (FATF) has decided to continue keeping Pakistan on the ‘grey list’ as the 3-day meeting of the task force ended on Thursday. All eyes are on whether Pakistan will be ‘blacklisted’ for promoting terrorism or will remain in the ‘grey list’ as before. The global money laundering and terror financing watchdog meets for its next session in April 2022, according to a media report. Paris-based Financial Action Task Force (FATF) was in session for three days from October 19 to 21.

The FATF in June retained Pakistan on its ‘grey list’ for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of UN-designated terror groups, including Hafiz Saeed and Masood Azhar. It also asked Pakistan to work to address its strategically important deficiencies.

Virtually connected delegates will join those that are able to travel to Paris for three days of meetings, during which they will discuss key issues to strengthen global action against the financial flows that fuel crime and terrorism, the FATF said in a statement on Monday.

The FATF said it will finalise key reports, including the revised guidance on virtual assets and their service providers and discuss next steps to strengthen its standards on transparency of beneficial ownership.

Delegates will also discuss the outcomes of the FATF’s survey to identify areas where divergent anti-money laundering and counter-terrorist financing rules or their implementation cause friction for cross-border payments. (MR, Inputs: Agencies)

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