International money laundering watchdog FATF had decided to maintain Pakistan on Grey list which puts the nation on its compliance documents. The decision to maintain Pakistan on Greylist is said to be an act of acknowledgment for its recent crackdown on terror funding and the curbing of money laundering sources.
The Finance Division pointed out that during the last reporting period, Pakistan made “significant progress” in the implementation of the 27-point FATF Action Plan, which was demonstrated by the completion of nine additional action items.
However, FATF strongly urged Pakistan to clear all the 27 point action plan plan by June 2020, upon which the next review would be made. Pakistan was saved by its friendly allies China, Malaysia, and Turkey as a minimum of three votes by FATF members is needed to avoid the organization’s blacklist.
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