Indian propaganda against FATF in Pakistan

FATF to review Pakistan's compliance report today

Lahore, 12th October: The Indian media has started spreading negative news about the FATF stating that Pakistan got no relief at the Financial Action Task Force (FATF).

Indian media has already started spreading the propaganda that FATF will still keep Pakistan on the grey list and more things will be observed while keeping it on the watch list.

Meanwhile, Pakistan Foreign Minister Shah Mehmood Qureshi has given good news to the nation that Pakistan will be removed from the grey list of the Financial Action Task Force (FATF) in the October 13 virtual meeting.

FM Qureshi said that Pakistan has made remarkable progress and has implemented 21 out of 27 points of FATF.

However, according to reports from the Indian news website IFE News Network, FATF’s Asia Pacific group keeps Pakistan on the Enhanced Follow Up List for slow progress on technical recommendations to fight terror financing.

According to the Indian propaganda, the development has come only a few weeks ahead of the FATF meeting to decide on Pakistan’s grey list status. Pakistan has improved its full compliance with only two of the 40 FATF recommendations, the APG report noted.

Pakistan has been found non-compliant on 4 counts, partially compliant on 25 counts & largely compliant on 9.

The website stated that Pakistan had requested for re-ratings on three areas declared partially compliant by the APG in October last year. The request was accepted on one count and rejected on two due to “insufficient” progress to the satisfaction of international experts.

‘Enhanced follow-up’ is an intensive process of correction that deals with members with significant deficiencies (for technical compliance or effectiveness) in their AML/CFT systems.

Based on a review of Islamabad’s performance to meet global commitments and standards on the fight against money laundering and terror financing (ML&TF), it would be decided if Pakistan should be excluded from its grey list. The APG’s report came ahead of the virtual FATF plenary scheduled for October 21-23.

In June 2018, the FATF had placed Pakistan on its grey list and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019. Later on, the deadline was extended due to the COVID-19 pandemic.

The source from the Indian website is taken from Asianage, APG’s report, and open sources.

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