Pakistan sent a 22-point progress report to the FATF on Thursday as part of its compliance with anti-money laundering and terrorism financing measures.
In the report, Pakistan has answered the task force’s additional questions and detailed the steps it has taken to curb money laundering and terrorism financing. It’s currently on the FATF’s Grey List, with the threat that it might be downgraded to the Black List if it doesn’t make changes.
The FATF had asked what punishments had been given to members of banned outfits, and laws made to regulate madrassas (seminaries). The extra questions were sent last month. The report Pakistan sent on December 3 was received positively.
According to the finance ministry, Pakistan’s steps to stop currency smuggling were praised. Other than asking about the punishments for members of banned organisations and regulation of madrassas, the FATF also asked for more details about the plan to prevent money laundering through national saving schemes.
Pakistan’s delegation will meet with FATF officials from January 21 to 23. The decision on whether to remove Pakistan’s name from the Grey List, keep it there or downgrade it to the Black List is expected in February.