Habib university, Private university in Karachi, Pakistan

New Delhi, March 4 Pakistan is likely to remain on the grey list of the Financial Action Task Force (FATF) for another four months until June for a couple of unmet targets under the additional criteria, a Dawn news report said.The concluding session of the plenary meeting of the FATF, a Paris-based global money laundering and terrorist financing watchdog, is due on Friday and includes Pakistan's review on the agenda.Pakistan is now targeting the full completion of the 2021 action plan on anti-money laundering and combating terror financing (AML/CFT) by the end of January 2023, the report said.Pakistan has been on the grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018.In October 2021, the FATF acknowledged Pakistan's progress on a 27-point action plan on completion of 26 items but retained the country on its "increased monitoring list" to exhibit terror financing investigations against and prosecutions of top cadres of UN-designated terror groups.At the time, FATF President Marcus Pleyer said Pakistan had to complete two concurrent action plans with a total of 34 items."It has now addressed or largely addressed 30 of the items," he said.The most recent action plan of 2021 on money laundering from FATF's regional affiliate — the Asia Pacific Group (APG) — largely focused on money laundering and had found serious deficiencies.In this new action plan, four out of the seven items now stood addressed or largely addressed, the report said.In October last year, FATF encouraged Pakistan to continue to make progress in addressing the one remaining CFT-related item as soon as possible by continuing to demonstrate that terror financing investigations and prosecutions target senior leaders and commanders of UN-designated terrorist groups.In response to additional deficiencies later identified in Pakistan's 2019 APG Mutual Evaluation Report in June 2021, Pakistan provided further high-level commitment to address these strategic deficiencies pursuant to a new action plan that primarily focuses on combating money laundering.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Habib UniversityFOLLOW

Habib university, Latest News

UN Secretary-General Antonio Guterres on Friday condemned the suicide blast in the Pakistani city of Peshawar that killed over 50 people. ...

The Human Rights Commission of Pakistan (HRCP) has strongly condemned the suicide blast in the city of Peshawar that killed over 50 people. ...

Pakistan Prime Minister Imran Khan has ordered an inquiry into the Peshawar blast incident and directed the concerned to provide immediate medical aid to injured people, Radio Pakistan reported on Friday. ...

A major setback to Imran Khan's much-trumpeted plan to provide homes to the homeless, the Public Accounts Committee (PAC) of Pakistan's parliament informed on Thursday that contractors stopped working on all government-funded housing projects months ...

Peshawar, March 4 At least 30 people were killed and some 50 others injured after a blast went ... ...

Peshawar, March 4 At least five people were killed and over 30 others injured when a bomb went ... ...

Amid the ongoing war in Ukraine and Russia, many countries over the world are criticizing Russia and also putting ... ...

New Delhi, March 4 Pakistan is likely to remain on the grey list of the Financial Action Task ... ...