No likelihood Pakistan will be included in FATF black list

[Shahzaz ud din]

No likelihood Pakistan will be included in FATF black list
By Our Correspondent
Published: October 14, 2019
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Implementation on action plan will be reviewed for another two days

ISLAMABAD: Pakistan’s efforts were initially declared satisfactory in the Financial Action Task Force (FATF) meeting held in Paris presided over by China regarding money laundering and curbing terrorism financing.

However, the implementation of FATF action plan by Pakistan will be reviewed for another two days after which the global anti-money laundering body will decide whether to maintain or remove Islamabad out of the grey list.

The officials of finance ministry noted that Pakistan will not be included in the black list and India will fail in its efforts.
According to details, this is the first meeting of FATF being presided over by China where Saudi Arabia is also present as a member.

FATF comprises 37 members which include the United States, United Kingdom, China, India and Turkey including Gulf Cooperation Council and European Commission. Pakistan and Iran are on top of the agenda in the meeting.

The Pakistani team is being led by Federal Minister for Economic Affairs Hammad Azhar.

The FATF will determine how convincing and satisfactory are the steps taken by Pakistan to curb money laundering and terror financing, while the action plan given on April 29 is also being reviewed.

The finance ministry team is hopeful that Pakistan will not be included in the black list.

The team said that out of 36 recommendations of FATF, Pakistan had implemented 100% on 9 recommendations, while 27 recommendations had been partially implemented.

The team observed that terror financing had been stopped, while bank accounts of all proscribed organisations were frozen and their assets confiscated.

Sources said that during the past eight months, Pakistan had fully focused on the targets given by the FATF due to which there were no concerns of Pakistan being included in the black list.

Pakistan’s status will be decided after a thorough review on October 16 and 17.

Sources said that Pakistan required to work on four targets of FATF and has been asked to improve its prosecution on them.

Pakistan also requires maintaining a better coordination between the provinces and federation on money laundering.


Read more: black list , FATF , Latest

 

[Shahzaz ud din]

 

[Dil Pakistan]

China presiding the session to review Pakistan's FATF status is like US presiding to interrogate Israel

 

[Crusher]

Does FATF have any task other than "monitoring Pakistan" at the moment. It seems to be a useless organization whose only job is to "monitor" Pakistan's financial transactions/dealing etc. FATF looks to be a pretty much chootiya organization only focused on Pakistan.

 

[Shahzaz ud din]

Three countries stood up in favour of Pakistan in FATF

 

[VCheng]

Does FATF have any task other than "monitoring Pakistan" at the moment. It seems to be a useless organization whose only job is to "monitor" Pakistan's financial transactions/dealing etc. FATF looks to be a pretty much chootiya organization only focused on Pakistan.

FATF was formed by its member states (including Pakistan) to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering and terrorist financing. There is nothing wrong in what it says Pakistan must do to move out of the grey list and improve it financial system with accountability. Why is it that Pakistan is not meeting its own obligations?

 

[IndianGuy_]

China presiding the session to review Pakistan's FATF status is like US presiding to interrogate Israel

Pakistan needs 3 votes to avoid going into black list. That's China, Turkey and Malaysia.

But needs 15 or 16 votes to come out of grey list, that's the real challenge. Indian media reporting Pak moved to Dark Grey List, Pak media reporting they have moved to white list.

While the result will only be out on 18th I think.

 

[Respect4Respect01]

Does FATF have any task other than "monitoring Pakistan" at the moment. It seems to be a useless organization whose only job is to "monitor" Pakistan's financial transactions/dealing etc. FATF looks to be a pretty much chootiya organization only focused on Pakistan.

its used as a political tool against other countries.

 

[Ritual]

its used as a political tool against other countries.

Yep. Because the World’s epicentres of money laundering - London, Dubai & various offshore island havens like Belize are never touched by this FATF nonsense - and in the case of the first 2 they sit on the panel scowling at supposed guilty parties like Pak or Venezuela.

 

[Mugen]

FATF was formed by its member states (including Pakistan) to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering and terrorist financing. There is nothing wrong in what it says Pakistan must do to move out of the grey list and improve it financial system with accountability. Why is it that Pakistan is not meeting its own obligations?

But why no action against where the laundered money goes to?

 

[VCheng]

But why no action against where the laundered money goes to?

As long as the adherence to the FATF rulebook can be shown, it is all good. And it is not all that hard to follow either.

 

[RIP Pak LAW]

Pakistan needs 3 votes to avoid going into black list. That's China, Turkey and Malaysia.

But needs 15 or 16 votes to come out of grey list, that's the real challenge. Indian media reporting Pak moved to Dark Grey List, Pak media reporting they have moved to white list.

While the result will only be out on 18th I think.

WTF is "dark grey list" ? self created list after getting another jolt of not seeing Pakistan into black list ? lol Indian losers (TOI) creating their own colorful list hahaha

Does FATF have any task other than "monitoring Pakistan" at the moment. It seems to be a useless organization whose only job is to "monitor" Pakistan's financial transactions/dealing etc. FATF looks to be a pretty much chootiya organization only focused on Pakistan.

Agreed. Also the recommendations they gave a week back looks like some text book policies which I am sure 95% of the countries don't follow.

 

[SMC]

Pakistan needs 3 votes to avoid going into black list. That's China, Turkey and Malaysia.

But needs 15 or 16 votes to come out of grey list, that's the real challenge. Indian media reporting Pak moved to Dark Grey List, Pak media reporting they have moved to white list.

While the result will only be out on 18th I think.

Does it pain you that you and Indian media had to create a dark grey list?

 

[IceCold]

Indian media reporting Pak moved to Dark Grey List, Pak media reporting they have moved to white list.

Has it ever occurred to you Indians that what a joke you have become? From fake surgical strikes to making claims of shooting down F-16 while showing an AMRAAM out of your rear, isolating Pakistan and everything than an Indian would love to see happening to us with your defense minister going as far as to say Pakistan will get into black list any moment and since that did not happen, your state controlled media came with a entire new term "Dark Grey List". So its not black but gives that black look your defense minister predicted. Lol
Please carry on with the comedy, its really entertaining.

 

[maximuswarrior]

Does FATF have any task other than "monitoring Pakistan" at the moment. It seems to be a useless organization whose only job is to "monitor" Pakistan's financial transactions/dealing etc. FATF looks to be a pretty much chootiya organization only focused on Pakistan.

It is a blackmail club. Western countries put other nations on these lists to extract through blackmail. Nothing more nothing less.

Does it pain you that you and Indian media had to create a dark grey list?

LOL dark grey list. I suppose they already know that Pakistan isn't getting on the blacklist. Might as well create a fictional grey list.