Pakistan faces tough deadline from FATF: Sources

Pakistan faces tough deadline from FATF: Sources

ISLAMABAD - Pakistan faces a tight and tough deadline from the Financial Action Task Force.

Pakistan will have to comply with 27 actionable plans of the Financial Action Task Force (FATF) by December 15, including sharing evidence for effective implementation against eight mentioned prescribed entities and their affiliates by tracing and freezing their assets.

The FATF has placed this condition to comply with the United Nations Security Council Resolution (UNSCR) 1267 and 1373 and Pakistan will have to implement it by May 2019.

In case of noncompliance and having no progress, Pakistan could be placed into blacklist or kept into existing grey list for another year anytime during January to September 2019 with far-reaching consequences.

The FATF is scheduled to meet in Sydney from January 5 to 7, 2019 to review the progress report.