A well-informed source confirmed that the high leveled team of Financial Action Task Force (FATF) will arrive Islamabad, capital city of Pakistan on Sunday evening. The FATF group during the stay in Pakistan will review the steps taken by Pakistan against Money Laundering, terror financing.
The team of FATF Asia Pacific group will meet the officials of the ministries of interior, finance, foreign affairs and law besides the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), National Counter-Terrorism Authority (Nacta), Federal Investigation Agency (FIA), Federal Board of Revenue (FBR), National Accountability Bureau (NAB), Anti-Narcotics Force (ANF), Financial Monitoring Unit (FMU), Central Directorate of National Savings and provincial counter-terrorism departments.
FATF group will review steps taken by Pakistan against ML/CFT
The briefings by the officials of Pakistan will began from Monday and during the presentations, government source told ‘WNObserver’ that the crucial round of briefings and explanations would start from Wednesday and the FATF group will prepare report at the conclusion of their tour of Pakistan to submit final report to the committee of FATF.
Crucial round of briefings and explanations would start from Wednesday
It is pertinent to mention here that Pakistan has responded to targeted financial sanctions and asset freezing of identified organisations and measures to block flow of funds to banned/proscribed organisations like Jaish-e-Mohammad, Lashkar-e-Taiba, Falah-i-Insaniyat Foundation under the UN resolutions.
An official said Pakistan had made satisfactory progress on all the 27 actions required under the FATF and had fully complied with the five specific questions earlier.
Pakistan had made satisfactory progress on all the actions required under the FATF
In June last year, Pakistan made a high-level political commitment to working with the FATF and APG to strengthen its AML/CFT regime and to address its strategic counter-terrorism financing-related deficiencies by implementing an action plan to accomplish these objectives.
The successful implementation of the action plan and its physical verification by the APG will lead the FATF to clear Pakistan out of its grey list or more time before September 2019.
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