Financial Action Task Force FATF takes decision over Pakistan greylisting

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Financial Action Task Force FATF takes decision over Pakistan greylisting

ISLAMABAD - Financial Action Task Force FATF takes decision over Pakistan greylisting.

Pakistan received another extension on the “greylist”, as the Financial Action Task Force (FATF) plenary session on Wednesday decided to continue all countries under scrutiny for Terror Financing and Money Laundering until October 2020.

At the FATF plenary, held through videoconferencing, Pakistan was due for a decision on whether it would be kept on the “greylist” or downgraded to the blacklist for failing to meet the finance watchdog’s 27-point action plan on countering terror financing and anti-money laundering (CFT/AML) measures.

Sources said the FATF, which had given Pakistan two extensions to comply with its action plan since October 2019, decided unanimously to postpone decisions on all countries under “increased monitoring” or the “greylist”, as well on “high risk jurisdictions”, as the “blacklist” is formally known, owing to the Coronavirus pandemic.