FATF keeps Pakistan on enhanced follow-up list

Financial Action Task Force (FATF) Asia Pacific Group has kept Pakistan in its ‘Enhanced Follow Up’ list. The organisation had downgraded Pakistan status from “regular follow-up” to “enhanced follow up”. Enhanced follow up status means the country need to provide monthly reports of its compliance to the Financial Action Task Force.

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The Asia-pacific group of FATF submitted its report called “Follow up report on the “mutual evaluation of Pakistan”. In the report, it was highlighted that the progress of Pakistan to combat the Financing of terror system and anti-money laundering made by the Financial Action Task Force has remained unchanged in 2020 as compared to that of 2019. As per the report, Pakistan complied with only two of the 40 recommendations of the Financial Action Task Force.

Important takeaways for all competitive exams:

  • The headquarters of FATF is in Paris, France.
  • FATF was founded in July 1989.
  • Prime Minister of Pakistan: Imran Khan.
  • President of Pakistan: Arif Alvi.
  • Capital of Pakistan: Islamabad.

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