FATF meeting ends, Pakistan not on terror financing list

FATF meeting ends, Pakistan not on terror financing list

Paris (Agencies): The three-day Financial Action Task Force Plenary meeting has concluded in Paris.

According to reports, Financial Action Task Force (FATF) has decided not to place Pakistan back on its terror financing watch-list on a list of countries that financially aid terrorism with effect from June but Islamabad believed the decision was politically motivated that may affect its future cooperation.

Pakistan’s name has not been mentioned in the FATF report issued at the end of three day Plenary meeting in Paris, Radio Pakistan reported.

The meeting discussed the mutual evaluation report of Iceland, which set out the level of effectiveness of Iceland’s Anti Money Laundering and Counter Terrorist Financing system and its level of compliance with the FATF Recommendations.

The FATF congratulated Bosnia and Herzegovina for the significant progress made in addressing the strategic AML/CFT deficiencies earlier identified by the FATF and included in its action plan.

The meeting discussed combatting terrorist financing, including the adoption of a new counter-terrorist financing operational plan.

It adopted a report to the G20 Finance Ministers and Central Bank Governors and updated FATF Guidance on Counter Proliferation Financing. It decided to monitor Iran’s actions to address deficiencies in its Anti-Money Laundering and Counter Terrorist Financing system.

The FATF also discussed the progress that Brazil has made in line with the action plan it agreed in November 2017.