As Pakistan waits for the outcomes of the Financial Action Task Force’s (FATF) two-day plenary session, which starts today in Paris, France, the day of reckoning has finally arrived.
Hina Rabbani Khar, the minister of state for foreign affairs, and her team are now in Paris to supervise discussions over Pakistan’s removal from the anti-money laundering watchdog’s heightened surveillance list, often known as the “grey list.”
Today is the first FATF Plenary under Singapore’s two-year Presidency under T. Raja Kumar. The Working Group and Plenary sessions will feature speakers from 206 Global Network members and observer organisations, including as the International Monetary Fund, the United Nations, the World Bank, Interpol, and the Egmont Group of Financial Intelligence Units.
Delegates will debate important topics in the battle against money laundering and the funding of terrorism, including a study on the hazards of fentanyl’s role in money laundering.
At the conclusion of the two days of discussions, a decision about Pakistan’s status would be made public. The report on Pakistan by the FATF Onsite team is anticipated to be considered at the plenary sessions. Pakistan is expected to be removed from the watchdog’s infamous grey list by tomorrow, after dominating the feared table for more than four years.
On June 28, 2018, Pakistan was added to the FATF’s grey list for the third time, and since then, it has been attempting to be removed.
To read our blog on “Pakistan falls short of “effectiveness” on four FATF-related objectives,” click here.