ISLAMABAD: Pakistan has launched a massive diplomatic effort to get off the Financial Action Task Force (FATF) grey list, according to official sources.
Pakistan needs the votes of Turkey, China, and Malaysia to get off the list, and all three countries have assured the Pakistani authorities of full support for the purpose. That’s why now there are bright chances that Pakistan will get off of the FATF grey list during the current meeting being held from June 14 to 17 in Berlin, Germany.
Germany, the US, and other countries have also expressed partial support for Pakistan’s demand for exclusion from the FATF grey list.
According to sources, during the recent visits of Prime Minister Shehbaz Sharif, Foreign Minister Bilawal Bhutto Zardari and Minister of State for Foreign Affairs Hina Rabbani Khar to different countries, important discussions took place regarding FATF. In all these meetings, a soft attitude towards Pakistan was expressed by important countries.
Pakistan has implemented almost all points of the FATF Action Plan, except for the penalties, and Pakistan has made prosecutions and all relevant legal amendments in this regard.
Marcus Pleyer, the president of FATF, while speaking at an international money laundering conference in Berlin, said that digital transformation could be a game changer in the fight against money laundering.
He urged both the public and private sectors to work together to combat money laundering and terrorist financing, emphasising that working alone will not solve real problems.
More experts in financial crime, data protection, and technology attended the conference.
The FATF meeting in Berlin will continue until June 17.
On the final day of the meeting, it will be decided whether or not to keep various countries on the FATF black and grey lists.
