Pakistan 100% compliance report submitted to FATF states that Pakistan has completed the implementation of the 27 points proposed by the Financial Action Task Force (FATF). The decision to remove Pakistan from grey list will now be based on the progress
The Source
The ongoing three-day meeting of the FATF in Paris, starting Wednesday, will be assessing and discussing Pakistan’s progress and compliance to the 27-point action plan to curb money laundering and terrorist financing.
About the Pakistan 100% Compliance report, nearly 150 people had been convicted in money laundering cases, while Pakistan had overcome the terrorism financing issue. There had not been any major terrorist incident in the country for a while.
In addition, law had been amended to punish those involved in money laundering, while recently the Federal Board of Revenue (FBR) had been given the power to freeze suspected bank accounts. Also there had been progress in monitoring professions such as real estate, lawyers, accountants etc.
