Pakistan likely to be off financial crime watchdog FATF’s ‘grey list’

Pakistan is likely to be removed from the ‘grey list’ of the Financial Action Task Force, and the announcement regarding the same is expected to be made this week.

Pakistan is likely to be off the ‘grey list’ of the Financial Action Task Force (FATF).

Pakistan is likely to be off the ‘grey list’ of the Financial Action Task Force (FATF). The announcement for the same will take place at the FATF plenary which is scheduled this week, from June 14 to 17, 2022, in Berlin (Germany).

Sources have told India Today TV that the announcement would be put up on the website of the global financial crime watchdog, followed by an on-site visit to Pakistan by a team of the FATF to assess the compliance by the country which has been under ‘Jurisdictions Under Increased Monitoring and High-Risk Jurisdictions’ for more than four years now. The official announcement would be made at the October plenary of the FATF.

Read: Pakistan remains on FATF’s grey list: Report

According to sources, Pakistan has completed 26 of the 27 action items in its 2018 action plan for the FATF and six of the seven action items of the 2021 action plan of the FATF’s Asia Pacific Group on Money Laundering (APG).

According to FATF’s announcement, the delegates representing 206 members of the Global Network and observer organisations, including the International Monetary Fund, the United Nations, the World Bank and the Egmont Group of Financial Intelligence Units, will take part in the last plenary under the two-year German Presidency of Dr Marcus Pleyer from 14-17 June 2022. The German government will host this hybrid event in Berlin, with a significant number of participants taking part in person.

German Ambassador to Pakistan, Bernhard Schlagheck, expressed hope of Pakistan being removed from the FATF grey list this month. Speaking to media persons in Islamabad on Sunday, the German envoy brushed aside concerns of lobbying against Pakistan at the FATF. He said that FATF was a collective forum and one country alone cannot influence decisions.

“It is a technical process and positive results regarding Pakistan are expected,” he added.

Read: New friend Turkey on terror watch list, who will help Pakistan at FATF now?

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