FATF grey list: Pakistan’s Case Expected To Be Reviewed Today


Pakistan’s FATF grey list case is expected to be reviewed today at the ongoing meeting of the Financial Action Task Force (FATF) in Paris.

Pakistan is expected to be placed on the FATF grey list during the crucial six-day meeting from June 24th to 29th 2018 in Paris.

Caretaker Finance Minister Dr Shamshad Akhtar arrived in Paris today along with officials of the financial monitoring unit to fight the country’s case.

The Pakistani delegation will explain the steps taken by Pakistan to stalk money laundering and terror financing. The delegation will put up a robust case on not placing its name on the grey list.

The decision to place Pakistan on the global money-laundering FATF grey list was made during a FATF plenary meeting in February in 2018.

Ahead of the latest meeting, Pakistan took steps in keeping with FATF regulations. On June 20, the Securities and Exchange Commission of Pakistan issued Anti Money Laundering and Countering Financing of Terrorism Regulations 2018, in compliance with FATF recommendations.

Earlier on June 8th, the National Security Committee reaffirmed its commitment to cooperate with FATF.

According to the statement issued by the government office, “The committee reaffirmed the commitment of the country to work with FATF and other international organizations in achieving common goals and shared objectives.”

FATF is a global body that combats terrorist financing and money laundering.

Earlier during 2012 to 2015, Pakistan was also placed on the FATF grey list.

Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations by the FATF. This measure could certainly hurt its economy.


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