Pakistan to remain in FATF grey list till February 2020

Pakistan to remain in FATF grey list till February 2020

Pakistan to remain in FATF grey list till February 2020

PARIS, FRANCE – APRIL 16: Co-chairman and co-founder of the The Bill and Melinda Gates Foundation, Bill Gates speaks to the media after his meeting with French president Emmanuel Macron at the Elysee Palace on April 16, 2018 in Paris, France. (Photo by Chesnot/Getty Images)

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The Financial Action Task Force (FATF) meeting on Friday has decided to keep Pakistan on the grey list by February 2020.

FATF’s President, during a press conference at Paris, said that Pakistan had taken positive steps to eliminate money laundering and terrorism.

He said that Pakistan’s name will remain on the grey list so Pakistan will have to take strong further steps.

The task force directed Islamabad to take more measures for complete elimination of terror financing and money laundering.

“The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020,” it said in a statement.

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“Otherwise, should significant and sustainable progress not be made across the full range of its action plan by the next Plenary, the FATF will take action.”

At the October 2019 plenary, according to the statement, the country reiterated its political commitment to completing its action plan and implementing AML/CFT reforms.

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