FATF retains Pakistan on grey list till June 2020

At the conclusion of its plenary meeting, the FATF stated Pakistan’s progress or implementation on its recommendations as ‘satisfactory’. It said that Pakistan had implemented additional nine recommendations put forward by the task force.

“Pakistan’s political commitment has led to progress in a number of areas in its action plan, including risk-based supervision and pursuing domestic and international cooperation to identify cash couriers,” it said in its statement released Friday.

“Pakistan should continue to work on implementing its action plan to address its strategic deficiencies,” it added, urging the country “to swiftly complete its full action plan by June 2020”.

The anti-money laundering watchdog said that after the conclusion of its plenary meeting, the FATF members had decided to keep Pakistan on the grey list. It said that Pakistan had assured the body that it will implement the recommendations of the FATF and had also prepared a strategy to do so. It said that Pakistan was implementing its strategy as well.