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FATF for more action against money laundering

FATF for more action against money laundering

ISLAMABAD: The Financial Action Task Force (FATF) Asia Pacific Group has demanded more action from Pakistan to put an end to money laundering and giving financial assistance to terrorists.

Pakistan and FATF’s Asia Pacific delegation recently held talks for a week and half in the capital.

According to sources, the FATF has demanded Pakistan to ‘do more’ in terms of stopping money laundering. The organisation has also expressed satisfaction over the progress made by Pakistan so far in this regard.

In the last meeting on Friday, the FATF delegation held talks with Pakistani officials and presented them an initial report. Sources said that the group will provide Pakistan the first report until November 19 and visit Pakistan in March or April 2019.

The Asia Pacific Group will make the report related to Pakistan public in July 2019. It is pertinent to mention that the FATF has included Pakistan in its ‘grey list’ upon failure to stop financial aid to terrorists.