FATF announces decision today over Pakistan fate on greylist

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FATF announces decision today over Pakistan fate on greylist

The Financial Action Task Force (FATF) will announce its decision today (Friday) on whether or not Pakistan will remain on its grey list.

The FATF plenary is expected to take up Pakistan’s case today, the last day of its ongoing meeting between October 21 and 23.

The plenary, which was earlier scheduled in June but got postponed due to the COVID-19 pandemic, will decide Pakistan’s fate whether to keep the country on the grey list for another extended period or to remove it.

*Also read: FATF to discuss Pakistan's case tomorrow link*

In February 2020, the FATF plenary granted Pakistan a grace period of four months to complete its 27-point action plan against money-laundering and terror financing (ML&TF) after it noted that the country was compliant on 14 points.

Pakistan was placed on the grey list in June 2018.