Last Updated on: 6th July 2023, 06:42 pm
The Financial Action Task Force (FATF) to Assess Pakistan’s Performance in Implementing an Action Plan 27 on June 23.
Various sources told the online newspaper that the four-day FATF meeting will begin on Monday, June 21st in Paris, which will also take into account the action plan for Pakistan.
Pakistan has submitted a full report to the FATF on the implementation of 27 items of the action plan, which includes laws to curb money laundering as well as compliance measures to end terrorist financing, the sources added.
The International Cooperation Review Group (ICRG) examined Pakistan’s implementation report on the 27 action plans on June 15, 2021, under the joint chairmanship of the USA and Italy.
The report was then sent to the FATF for detailed discussion.
It is important to note that in February this year the FATF decided to keep Pakistan on its “gray list” and fully implement the remaining three of the twenty-seven items by June 2021.
Also Read: FATF recommendations for Pakistan attains compliant rating of 31 out of 40
The dots indicate that FT (terrorist financing) investigations and prosecutions are directed against individuals and organizations acting on behalf of, or on the direction of, designated individuals or organizations
It also demonstrates that prosecutions against FT result in effective, proportionate, and dissuasive sanctions.
It also explains the effective implementation of specific financial sanctions against all designated 1267 and 1373 terrorists, particularly those acting on their behalf or on their behalf.
Pakistan implemented 14 points out of 27 in February 2020 and 21 out of 27 points in October 2020 and ensured the full implementation of 27 action plans in this month of June.
It is worth noting here that the FATF added Pakistan to the ICRG’s gray list in June 2018 when four countries, including the UK, the US, Germany, and France, pointed to significant flaws in the Pakistani financial system.
Also Read: FATF Declares To Keep Pakistan Remain On Grey List Till February
