Pakistan
Paris/UNI: The Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog, is set to meet on Thursday when it will decide whether to keep Pakistan on the grey list.
At its last virtual meeting in June, the FATF had retained Pakistan in the “grey list” and had asked the country to implement a new action plan to tackle serious money laundering risks.
The watchdog will decide under the German Presidency of Marcus Pleyer whether Pakistan has met those conditions.
Pakistan could either be taken off the grey list or be given some additional time to make amends.
In a statement, the FATF said virtually connected delegates will join those that are able to travel to Paris for three days of meetings, during which they will discuss key issues to strengthen global action against the financial flows that fuel crime and terrorism.
The FATF will finalise key reports, including the revised guidance on virtual assets and their service providers and discuss next steps to strengthen its standards on transparency of beneficial ownership.
Delegates will also discuss the outcomes of the FATF’s survey to identify areas where divergent anti-money laundering and counter terrorist financing rules or their implementation cause friction for cross-border payments. FATF is leading work on this aspect of the G20’s priority to improve cross-border payments.
The FATF will also update its statements identifying jurisdictions with strategic deficiencies in their measures to combat money laundering and terrorist financing, it said.
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