ISLAMABAD – Pakistan’s fate hangs in balance at the Financial Action TaskForce (FATF) greylist.
A five-member delegation of Pakistan on Saturday will attend an importantmeeting of the Financial Action Task Force (FATF) that will conduct apreliminary review of Pakistan’s progress report of achieving 40recommendations in its action plan for uprooting money laundering andterror financing from the country.
The report carries Pakistan’s response to the FATF’s action plan, andobserved that the country has shown progress in 36 out of the 40recommendations.
According to sources, the country has completed an important point ofkeeping the data of financial institutions confidential, and has shownsignificant progress on nine recommendations.
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Crackdown against benami asset holders has also been improved, the reportoutlines. It further mentions measures implemented by the governmentagainst money laundering.
