India’s bid to blacklist Pakistan at FATF thwarted, but danger still remains - News Summed Up

India’s bid to blacklist Pakistan at FATF thwarted, but danger still remains


According to the 36-nation FATF charter, the support of at least three member states is essential to avoid the blacklisting. But, he added, Pakistan had to meet the FATF deadline — January 2019 — to complete its action plan aimed at fully blocking the money laundering and other financial loopholes. Pakistan had faced a similar situation in 2011 when it was included in the grey list and was taken out only in 2015 after it successfully implemented an action plan. About the US opposition to Pakistan in the FATF, Naqvi, who also served as an acting ambassador to the US, said: “Pakistan cannot do much to persuade the US. On the economic front, continuing with strong resolve all measures taken to stop money laundering and terror financing and initiating more measures is important to avoid any hostile FATF action in future, he maintained.


Source: The Express Tribune June 20, 2019 16:41 UTC



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