Saturday October 22, 2022

Achieving FATF Targets Was a Whole-of-nation Endeavour: FO

ISLAMABAD: The Financial Action Task Force (FATF) decided by consensus that Pakistan has completed all substantial, technical and procedural requirements of both 2018 and 2021 action plans.

In a statement, the Foreign Office Spokesperson said as a result, Pakistan had been taken out of the list of jurisdictions under increased monitoring, with immediate effect.

This decision was taken during the FATF Plenary meeting held in Paris, France from 20-21 October 2022. Minister of State for Foreign Affairs/Chairperson National FATF Coordination Committee, Hina Rabbani Khar, led the Pakistan delegation to the FATF Plenary.

Pakistan has made enormous progress in the Anti Money Laundering and Countering Financing of Terrorism (AML/CFT) domain over the course of fulfilling the requirements of both action plans. Despite many challenges, including Covid-19 pandemic, Pakistan continued the reform trajectory and sustained the high-level political commitment of aligning its domestic AML/CFT regime with international best practices.

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