FATF greylist: New startling revelations reported for Pakistan
ISLAMABAD – Evaluation report of Pakistan regarding the Financial Action Task Force (FATF) has revealed that 36 out of 40 targets have been achieved by Pakistan.
The report on curbing money laundering and terror financing, Pakistan was fully compliant with only one recommendation ‘Financial institution secrecy law’ while being hugely complaint with nine of the 40 recommendations.
Pakistan was also partially complaint with 26 recommendations whereas the nation failed to be complaint with just four recommendations.
According to the document, there was a slowdown in the action against the Benami assets and institutions.