Islamabad (HRNW) The Financial Action Task Force, an inter-governmental body that combats threats to the international financial system, has extended Pakistan’s deadline from June to October to take steps to avoid being placed on its blacklist.
The deadline has been extended because of the outbreak of COVID-19. It will now meet from October 21 to October 26 in Beijing.
In February 2020, the FATF expressed concerns over “Pakistan’s failure to complete its action plan in line with the agreed timelines and in light of the Terrorist Financing risks emanating from the jurisdiction,” it said in a report.
The global watchdog for illicit financial activities had put Pakistan on its grey list in June 2018 because of weaknesses in the country’s Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) laws.
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