Pakistan faces tough deadline from FATF: Sources

ISLAMABAD – Pakistan faces a tight and tough deadline from the FinancialAction Task Force.

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

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

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

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