Pakistan expects decision based on merit as FATF meets today

Pakistan has expressed optimism regarding the upcoming Financial Action Task Force (FATF) plenary which would meet today (Monday) in Paris. The four day meeting would review Pakistan’s progress and decide about its fate with respect to grey list.

"We hope that the FATF plenary would acknowledge and appreciate our actions,” said Zahid Hafeez Chaudhri, Foreign Office spokesperson, quoted Arab News.

"FATF is a technical body, and we expect it to take a decision based on the merits of our case," he said. Chaudhri informed that Pakistan has been fully committed in implementing the remaining points.

"In the remaining six partially addressed items, significant progress has been made by Pakistan, which is duly acknowledged by the wider FATF membership," FO spokesperson expressed.

FATF after October 2020 Plenary has strongly urged Pakistan to continue working on implementing its action plan to address its strategic deficiencies, including by (i) demonstrating that law enforcement agencies are identifying and investigating the widest range of TF activity and that TF investigations and prosecutions target designated persons and entities, and those acting on behalf or at the direction of the designated persons or entities; (ii) demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions; (iii) demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists and those acting for or on their behalf, preventing the raising and moving of funds including in relation to non profit organisations (NPOs), identifying and freezing assets (movable and immovable), and prohibiting access to funds and financial services; and (iv) demonstrating enforcement against TFS violations, including in relation to non profit organisation NPOs, of administrative and criminal penalties and provincial and federal authorities cooperating on enforcement cases.