ISLAMABAD: Pakistan likely to face setback at the Financial Action TaskForce crucial session in Paris, media rreport has revealed
The Financial Action Task Force (FATF) has decided in principle thatPakistan will remain on its grey list till next February and directedIslamabad to take ‘extra measures’ for ‘complete’ elimination of terrorfinancing and money laundering, Dawn News has reported.
An FATF meeting in Paris on Tuesday reviewed the measures that Islamabadhas already taken to control money laundering and terror financing.However, the meeting observed that Islamabad will have to take furthersteps in these four months.
The FATF has linked the blacklisting of Pakistan with unsatisfactory stepsto curb money laundering and terror financing. The FATF will make finaldecision in Feb 2020.
Read Top Stories
A formal announcement about these developments will be made on Oct 18 thisyear.
The spokesperson for the finance ministry, Omar Hameed Khan was approachedto verify the news but he said that “it is not true and nothing beforeOctober 18”.
