The global anti-terror financing watchdog, Financial Action Task Force-FATF is expected to announce its decision whether to keep-Pakistan in the gray list or in the black list today. Pakistan has not yet complied with six out of the 27 points of the FATF Action Plan. These six points relate to terror financing. The three-day Plenary Meet in Paris comes to close today. FATF President Dr. Markus Pleyer, will brief media on the outcome of FATF planning this evening.
The implementation plan to curb money laundering and terror financing was supposed to be put in place by the end of 2019. However, the dead line was extended in the wake of COVID pandemic.
The FATF is an inter-governmental body set up in 1989 to combat money laundering, terror financing and other related threats to the international financial system. It currently has 39 members. These include two regional organizations- the European Commission and Gulf Cooperation Council.