Islamabad: (Staff Reporter) Pakistan is expected to finally exit the grey list of the Financial Action Task Force (FATF) today as the global money-laundering watchdog meets to review the implementation of its action plan by Islamabad. This is the first FATF meeting under the chairmanship of taskforce’s new President Raja Kumar.
According to details, Pakistan is likely to exit the FATF’s infamous grey list after a period of four years as it has successfully complied with the 34-points action plan related to terror financing and money laundering.
As per details, earlier this year, the Financial Action Task Force (FATF) acknowledged that Pakistan has “substantially completed its two action plans”, saying that the watchdog will now schedule an on-site visit to verify the implementation of the measures.
Moreover it is pertinent to mention here that Pakistan was added to the FATF’s grey list in June 2018 for deficiencies in its system to curb money laundering and terror financing.
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