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