Paris October 19 2021: Under the German Presidency of Dr Marcus Pleyer, delegates representing 205 members of the Global Network and observer organizations, including the International Monetary Fund, the United Nations and the Egmont Group of Financial Intelligence Units, will take part in a hybrid meeting of the FATF Plenary.
Virtually connected delegates will join those that are able to travel to Paris for three days of meetings, during which they will discuss key issues to strengthen global action against the financial flows that fuel crime and terrorism.
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The FATF will finalise key reports, including the revised guidance on virtual assets and their service providers and discuss next steps to strengthen its standards on transparency of beneficial ownership. Delegates will also discuss the outcomes of the FATF’s survey to identify areas where divergent anti-money laundering and counter terrorist financing rules or their implementation cause friction for cross-border payments. FATF is leading work on this aspect of the G20’s priority to improve cross-border payments.
The FATF will also update its statements identifying jurisdictions with strategic deficiencies in their measures to combat money laundering and terrorist financing.
The outcomes of the FATF Plenary will be published on Thursday 21 October, at the close of the meeting.
Pakistan
Pakistan has 35 Recommendations rated Compliant or largely Compliant, as per report published by Asia Pacific Group (APG). The report further stated that Pakistan will remain on enhanced follow-up, and will continue to report back to the APG on progress to strengthen its implementation of Anti Money Laundering (AML) / Combating the Financing of Terrorism (CFT) measures. Pakistan’s fourth progress report is due 1 February 2022.
