Pakistan gets breather as FATF extends deadline

Islamabad: In a much needed breather for Pakistan, the Financial Action Task Force (FATF) has extended the deadline for the country till the next plenary meeting, urging Islamabad to ensure compliance of 27-point action plan.

The extension in deadline of review of Pakistan's progress to counter money-laundering and terror financing because of the ongoing outbreak of coronavirus pandemic, made it almost impossible for assessed jurisdiction and assessors alike to conduct on-site visits and in-person meetings.

"The gravity of the COVID-19 situation globally and the consequent COVID-19 related measures that countries have adopted, such as confinement and travel restrictions, are making it impossible to assessors to conduct on-site and in-person processes. The FATF acknowledges these severe challenges that countries face at this difficult time", an FATF statement said.

"The FATF Plenary has therefore agreed to temporarily postpone all remaining FATF mutual evaluations and follow-up deadlines."

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