The assessment team of the Financial Actions Task Force (FATF) is expected to visit Pakistan in early September, local media reported.
On June 17, FATF announced that Pakistan had substantially completed action plans. The statement also said that in order to verify the implementation of reforms, an on-site visit would be warranted.
The visit of FATF team would be purposed to complete the procedural requirement for exiting Pakistan from the international watchdog’s grey-list of the countries under enhanced monitoring.
According to media reports, diplomatic channels have been working over the finalization of the dates for the FATF assessment teams. During the visit, the FATF team would overlook and monitor the anti-money laundering and anti-terror financing efforts made by Pakistan.
The on-site review of the two action plans covering 34 items would be made by the international watchdog team.
According to the statement issued by FATF in June, Pakistan had made a high-level political commitment to working with FATF and the Asia pacific Group (AGP) for addressing strategic counter-terrorism financing and strengthening its anti-money laundering/counter-terrorism financing (AML/CFT).
FATF discussed the situation in Pakistan in a four-day plenary session in Berlin. After the session was concluded, it was announced on June 17 that the two action plans had been completed by Pakistan and now an on-site visit would be required for verification that the implementation of Pakistan’s AML/CFT reforms had sustainably begun.
Pakistan was placed on the list of countries under increased monitoring almost four years ago in June 2018.
