Following a five-day plenary meeting, the Financial Action Task Force (FATF) has decided to keep Pakistan on its grey list. The decision was announced in a press conference on Friday.
FATF President Dr Marcus Pleyer said, "Pakistan has made significant progress and it has largely addressed 26 out of 27 measures." The country's action plan on financial terrorism, he added, remained to be addressed.
He further said, "In 2019, the regional partner of FATF identified problems in Pakistan's anti-money laundering measures. But since then it has improved. There remains risk of money laundering and subsequently FATF had discussions with Pakistan."
He also thanked the government of Pakistan for its cooperating in working towards achieving the FATF goals.
FATF President Dr Marcus Pleyer said, "Pakistan has made significant progress and it has largely addressed 26 out of 27 measures." The country's action plan on financial terrorism, he added, remained to be addressed.
He further said, "In 2019, the regional partner of FATF identified problems in Pakistan's anti-money laundering measures. But since then it has improved. There remains risk of money laundering and subsequently FATF had discussions with Pakistan."
He also thanked the government of Pakistan for its cooperating in working towards achieving the FATF goals.