No Shiny Chit from FATF, Pakistan to Survive Grey Checklist Unless June 2020

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    No Shiny Chit from FATF, Pakistan to Survive Grey Checklist Unless June 2020


    Pakistan PM Imran Khan. (Reuters file photo)

    Pakistan PM Imran Khan. (Reuters file photograph)

    In a well-known setback for Pakistan, the country will live on the FATF Grey Checklist till June 2020.

    • Data18.com
    • Final Updated:February 21, 2020, 1: 52 PM IST

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    Islamabad:In a well-known setback for Pakistan, the country will live on the FATF Grey Checklist till June 2020. The resolution was taken by the anti-money laundering watchdog after the conclusion of the February 16-21 neighborhood conferences and plenary in Paris.

    The Monetary Action Job Power (FATF) FATF in October decided to withhold Pakistan on its Grey Checklist for failure to curb funnelling of funds to apprehension teams Lashkar-e-Taiba, Jaish-e-Mohammed and others.

    Pakistan is already finalising main amendments to no no longer up to a dozen of its rules to meet the FATF requirements by June this twelve months and sentenced Mumbai attack mastermind and JuD chief Hafiz Saeed to 11 years in two cases of apprehension financing on February 12.

    Saeed, a UN designated terrorist whom the US has positioned a $10 million bounty on, was arrested on July 17 in the phobia financing cases. The 70-twelve months-susceptible fiery cleric is lodged on the excessive-security Kot Lakhpat penal advanced right here.

    In response to those steps, the country’s efficiency might possibly per chance per chance be judged in the next FATF plenary in October 2020, the represent talked about.

    Pakistan submitted a 650-page review represent to the FATF on January 8. The represent was submitted in accordance to 150 questions raised by the FATF regarding novel Pakistani policies on money laundering. The represent outlined the steps taken by Pakistan between October 2019 and January 2020 to put in force the neighborhood’s ideas.

    In January, Pakistan told the US to provide a lift to its direct to exit from FATF’s grey checklist sooner than a key meeting of the arena apprehension financing watchdog in Beijing in which Islamabad’s efforts to undertake stricter rules in opposition to apprehension financing and money laundering had been scrutinised.

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