Friday, October 7, 2022

Pakistan's efforts to stop money laundering & terrorist financing satisfactory: FATF report

Pakistan's efforts to stop money laundering & terrorist financing satisfactory: FATF report

ISLAMABAD (92 News) - Pakistan has made satisfactory efforts to stop money laundering and terrorist financing, said a report issued by the Financial Action Task Force (FATF) up to August.

The report acknowledged that Pakistan has implemented 40 recommendations to achieve the desired results.

The FATF Secretariat also released the upgrading of Pakistan, saying all sections have been implemented. Generally, Pakistan has been declared successful in compliance.

According to the report, Pakistan has to submit the report of only one condition in September. Pakistan will be declared white after the on-site review report of the FATF of this report. This process will be completed in the FATF review meeting from September 18 to 21.