KARACHI: The Financial Action Task Force (FATF) has advised Pakistan to take further actions including strengthening of anti-money-laundering and counter terrorism financing – AML/CFT supervisory measures by the regulatory authorities.
The meetings of Financial Action Task Force (FATF) took place at OECD, Paris from February 17-22, 2019 to review the compliance of a number of countries with the international standards on Anti-Money Laundering and Counter Financing of Terrorism (AML-CFT).
Noting that Pakistan took several steps to implement the Action Plan including undertaking Risk Assessment of Terrorism Financing and Cash Smuggling in the country, FATF advised Pakistan to take further actions that include detailed assessment of TF Risk, strengthening of AML/CFT supervisory measures by the regulatory authorities, financial inquiries and investigations into terrorist funding activities and promotion of awareness among the citizens on CFT measures and controls. [the_ad id=”32940″]The FATF will undertake the next review of Pakistan’s progress in June 2019 which will be preceded by Face-to-Face meeting with the Joint Group in May 2019.
Pakistan was earlier placed by FATF in its Ongoing Compliance Document in view of an Action Plan undertaken by it to strengthen its CFT Regime. The FATF reviewed the progress made by Pakistani authorities concerned with CFT role, based upon an analysis carried out by Asia-Pacific Joint Group.