The last meeting of the FATF in February 2021 concluded on a mix note for Pakistan. FATF acknowledged significant progress made by Pakistan on the entire action plan where Pakistan successfully made progress across all action plan items and largely addressed 24 of the 27 action items. However, on the flip side it explicitly stated […]
FATF
Not justified to keep Pakistan in FATF grey list despite fulfilling requirements: Qureshi
ISLAMABAD: Foreign Minister Shah Mahmood Qureshi said on Wednesday Pakistan has fulfilled almost all the technical requirements of the Financial Action Task Force (FATF) to get off its grey list. He said that Pakistan had been given a 27-point action plan to fulfill. Work on 26 points has been completed, he added. “In this situation, […]
Will the fate of Pakistan Change in FATF?
The country hopes that the global watchdog will delete the country’s name from the “Grey” list in the upcoming meeting of the Financial Action Task Force (FATF). Pakistan has successfully implemented 26 of the 27 points being tasked, after which the chances of getting out of the gray list has become clear & brighten. The […]
Pakistan: Reclaiming its space on FATF whitelist
The money laundering and financing of terrorism have evolved as a transnational challenge. It is difficult to investigate and prosecute the offenders of Money Laundering and Terrorist Financing who are operating through complex series of transactions having access to various jurisdictions. Pakistan due to deficiencies in its Anti- Money Laundering and Combating Financing of Terrorism […]
Pakistan achieves compliant rating in 31 out of 40 FATF recommendations: AGP
ISLAMABAD: The Asia Pacific Group (APG) on Money Laundering published Pakistan’s second Mutual Evaluation follow-up Report, declaring that the country had achieved compliant or largely compliant rating in 31 out of 40 Financial Action Task Force (FATF) Recommendations in Technical Compliance. According to a press statement issued by the Finance Ministry here, these results, published […]
Pakistan: Combating the illicit flow of money
The cross-border movement of illegally obtained funds leaves a scar on the sanctity and security of the global financial system. The governments and financial institutions in collaboration with global watch-dogs are in a constant pursuit to restrict and eliminate the risk of illicit funds traveling from one place to another through the global financial system. […]
Rehman Malik urges IAEA to take serious notice of Indian nuclear proliferation
ISLAMABAD: Former Interior Minister and Chairman Institute of Research and Reforms (IRR) Senator A Rehman Malik has urged the International Atomic Energy Agency (IAEA) to take serious notice of continuous nuclear proliferation by India and probe into the incidents on urgent basis. He suggested the IAEA chief to call an emergency meeting inviting western countries […]
FATF: FBR’s challenges
In June 2021, Pakistan is going to face yet another review of its remaining compliance of three action items, out of total 27 under anti-money laundering and combatting financing of terrorism [AML-CFT] mandates agreed with Financial Action Task Force (FATF) in June 2018. After remaining unsuccessful in last review of FATF, according to a […]
Hammad Azhar assures that Pakistan will not be blacklisted by FATF
As Financial Action Task Force (FATF) announced Pakistan’s unmoving position on its grey list for another four months, Minister for Industries Hammad Azhar said being blacklisted is out of question. Addressing a press conference in Islamabad, he said that Pakistan achieved its targets despite the tight timelines and FATF’s challenging action plan. “At the previous […]
Imran Khan on ‘genocide’ in Kashmir and possible war with India
It has been a year since the former cricketer-turned-politician Imran Khan became Pakistan’s prime minister. Khan’s campaign slogan was “Naya Pakistan” or “New Pakistan”, a reflection of his promises to turn the country’s economy around and end corruption. But the first year of his premiership has not gone as smoothly as he may have hoped or even expected, […]