Money laundering, terror financing: FATF to evaluate Pak report in Bangkok on 8th

ISLAMABAD: A Pakistani delegation will meet an FATF team in Bangkok from September 8 to 10 for a final evaluation of its anti-money laundering and terror-financing report.

The Pakistani delegation will head to Bangkok on September 7. This final evaluation of the report will determine what decision the FATF makes in October — whether Pakistan will get off its grey list, remain on the list or get downgraded to its black list.

The report in question was submitted to the FATF during the Asia Pacific Group’s annual meeting in Australia’s Canberra from August 18 to 23.

A high-level Pakistani delegation headed by State Bank of Pakistan Governor Dr Reza Baqir attended the meeting and submitted Pakistan’s report on the progress it has made on implementing the FATF’s 27-point action plan.

Pakistan was supposed to make progress on this plan by August 13. The plan includes things like stopping money laundering and terrorism financing.

The APG adopted the report during the August meeting and will be evaluating it during the Bangkok meeting. Pakistan will also brief the FATF team on the steps it has taken to curtail the activities of banned outfits and seizing of heir assets. After it submitted the report, Pakistan was asked approximately 100 additional questions by the FATF. It will also be submitting its answers to those questions during the three-day meeting.