FATF delegation likely to visit Pak next week

FATF delegation likely to visit Pak next week
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Islamabad: A delegation of the Financial Action Task Force (FATF), an anti-terror money laundering global watchdog, is likely to visit Pakistan on August 13 to review the implementation of its action plan imposed on Pakistan to tackle terrorism funding.

Attributing to sources, Geo News reported that a group of delegates from the Asia Pacific Group on Money Laundering would be on a three-day visit to Pakistan from August 13.

Officials from the National Counter Terrorism Authority (NACTA) and others would also brief the FATF delegation on measures taken by Pakistan to curb terror financing, the sources added.

Pakistan was formally inducted to the FATF ‘grey list’ on June 27 during a plenary meeting in which Pakistan’s caretaker finance minister Shamshad Akhtar was present with a delegation.

However, the FATF was not entirely convinced by Pakistan’s 26-point action plan to cut off funding of terrorists and groups sanctioned by the UN Security Council, and therefore, went ahead to put Islamabad on its grey list for the second time in six years, the first being between 2012 and 2015.

The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system. (ANI)