Financial Action Task Force’s (FATF) 15-membered team has reached Pakistan two days ago to conduct an onsite visit for the verification of measures against money laundering and terror financing.
According to the report, the on-site visit is also being carried out to authenticate the stance of Pakistan as reported in cyclic reports. In this regard, the team will hold meetings with several Pakistani Authorities.
In order to make the arrangements for the visit, National FATF Secretariat sought a supplementary grant of Rs. 7.0 million which was approved by Prime Minister Shehbaz Sharif.
National FATF Secretariat is responsible for all arrangements related to logistics, boarding and local hospitality for the Assessor’s team.
A breakdown of expenditures was provided by the FATF Secretariat and had been approved by the Federal Minister of State on Foreign Affairs, Ms. Hina Rabbani Khar.
Pakistan had been preparing for the visit for several months and under the incumbent government, many strict decisions were made to ensure that all conditions of FATF were met prior to the on-site visit.
The 15-membered team will inspect Pakistan’s action till 2 September and submit a report after the visit.
Pakistan had been placed on the FATF grey list on June 2018 on the allegations of money laundering and terror financing.
