Peshwa
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Update of FATF Meeting: Outcomes FATF Plenary, 21-23 February 2018
- Thread starter SunilM
- Start date
Shane
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Have to admit that I was made to think otherwise by news going around on the Tele a few hours ago.
All the the chaos and hoopla on media is contrary to what is available on the FATF website about their latest meet.
There is all sorts of information about what went on during their 21-23 Feb meet but no mention of Pakistan being put on grey list at this time.
All the the chaos and hoopla on media is contrary to what is available on the FATF website about their latest meet.
There is all sorts of information about what went on during their 21-23 Feb meet but no mention of Pakistan being put on grey list at this time.
waz
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You can verify quite a bit it's called research, if that's hard for you to do then that's your business, it isn't for me.
Also stop making assumptions just because it is "negative news about Pakistan", I was clearly speaking in general.
Newspapers are out to earn money right, a ton of assumptions can be made about that alone.
BHarwana
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@waz here please check if you can find Pakistan any where with red R5 rating?
http://www.fatf-gafi.org/media/fatf/documents/4th-Round-Ratings.pdf
http://www.fatf-gafi.org/media/fatf/documents/4th-Round-Ratings.pdf
Shane
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Pakistan doesn’t figure in FATF watchlist; outcome released
PARIS/ISLAMABAD: Contrary to speculations, Pakistan doesn’t feature on the watchlist of Financial Action Task Force (FATF), a global money-laundering watchdog.
Earlier in the day, there were speculations that FATF has placed Pakistan back on its terrorist financing watchlist.
However, FATF has finally announced outcome after a week-long session concluded in Paris today. The outcomeand public statement, announced on FATF’s official website, do not carry Pakistan’s name.
-
Samaa Web Desk
- 3 hours ago
- Categories:Pakistan
- Tags:FATF watch-list, Financial Action Task Force, outcome released, Pakistan
PARIS/ISLAMABAD: Contrary to speculations, Pakistan doesn’t feature on the watchlist of Financial Action Task Force (FATF), a global money-laundering watchdog.
Earlier in the day, there were speculations that FATF has placed Pakistan back on its terrorist financing watchlist.
However, FATF has finally announced outcome after a week-long session concluded in Paris today. The outcomeand public statement, announced on FATF’s official website, do not carry Pakistan’s name.
BHarwana
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In june till you forget this was fake news. lol
waz
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Well according to many Indian posters there is actually a hidden meaning behind that PDF document. It's clear Pakistan has been placed on the list, we are all delusional and they have inside information from a few tweets and articles.
I'm just waiting for them to crack open this codex and show us all.
Peshwa
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And by research you mean find other publications verifying the same information. Am I right? Or is that an assumption as well?
So basically the publication that speaks the version you want to hear, not one that has built its reputation through ethical reporting practices over decades. That’s a nice attitude.
I mean not sure how one would be able to “research” the happenings inside of a FATF closed door meeting unless you’re present there. And if not, you would have to rely on the words of a politician/diplomat (whom most in your country don’t trust and have been known to **** up) or the media.
So pray tell, how do you plan on this “research”?
And FYI: subscription is not the only way newspapers earn money. Their main revenue source is advertising. So it would be stupid for a newspaper to kill its reputation and drive away advertisers by publishing fake news
Norwegian
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ISLAMABAD: The Financial Action Task Force on Friday decided to place Pakistan back on its terror financing watch-list on a list of countries that financially aid terrorism with effect from June but Islamabad believed the decision was politically motivated that may affect its future cooperation.
Despite initially agreeing to Pakistan’s viewpoint, the FATF Plenary decided to place the country on the Grey List from June, confirmed a senior government official who attended FATF meetings in Paris, France. Pakistan was previously on the Grey List from 2012 to 2015.
The federal government does not see any major impact of the FATF’s decision on its economy and the country’s de-facto finance minister said that during 2012 to 2015 period, Pakistan signed agreements with the International Monetary Fund and issued sovereign bonds in international capital markets.
Sources claim Pakistan back on FATF watch-list, govt says no ‘official intimation’ yet
Pakistan’s financial system was strong and its anti-money laundering and counter-terrorism financing regimes were among the most stringent in the world, said Dr Miftah Ismail.
The decision is seen as being against the norms of the FATF and its sister organisations, as the country’s Mutual Evaluation – a process of assessing levels of implementation of FATF recommendations, was currently undergoing.
The Mutual Evaluations also provide an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system.
The decision to place a member country on the FATF list is usually taken in light of the Mutual Evaluation, so FATF’s latest move suggests that Pakistan was falling victim to international politics, government officials said while requesting anonymity.
“Pakistan has serious concerns and objections to the introduction of this new nomination procedure, which is unprecedented and in clear violation of the established rules and practices of FATF”, the FO spokesman said on Friday.
Most of the concerns raised by the US regarding deficiencies in our Counter Financing Terrorism and Anti money laundering regime had already been addressed in 2015, when Pakistan was taken off the “grey list”.
Where from here
Now, FATF would require Pakistan to submit an Action Plan in May in order to be removed from the list in the coming months or years. Once the FATF approves this Action Plan in June, there will be a formal announcement from FATF about placing Pakistan on the Grey List.
If Pakistan fails to submit a plan, the FATF has the option of placing the country on its Black List, which carries adverse implications. This limits Pakistan’s ability to decide whether it should cooperate with the FATF or not due to the global body’s ‘unjust decision’.
The US and UK jointly submitted a resolution to the FATF nominating Pakistan for placement in the Grey List. France and Germany subsequently joined this nomination.
Reforms issues
The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT).
About two and half years ago, the global body had struck off Pakistan’s name after the country agreed to take actions against Hafiz Saeed’s Jamaat-ud-Dawa (JuD) and the Falah-e-Insaniyat Foundation (FIF) and Lashakar Tayiba.
However, some of these actions remained pending, and Pakistan only finished checking the off about two months ago. During the International Country Risk Guide (ICRG) session that took place a day before FATF plenary, some member countries had raised the question that there was no analysis available to judge Pakistan’s action, said the officials.
Upon this Adviser to Prime Minister on Finance Dr Miftah Ismail offered that Pakistan was ready to submit a report on its action plan and after that the FATF should take the decision, the officials said. At that point, Japan supported Pakistan’s view that action should be taken on the basis of the evidence.
The ICRG agreed to this proposal that Pakistan would take certain measures to address the international community’s concerns and in light of those measures the FATF should take steps in future, according to the officials.
China also advised Pakistan to sign an agreement with the FATF on the measures that it would take in next three months, said the officials.
The pre plenary meeting ended on this positive note and this was also the reason behind Foreign Minister Khawaja Asif’s tweet in which he announced that FATF deferred the decision for three months and asked the Asia Pacific Group for another report on Pakistan, according to the officials.
However, to the surprise of Pakistani authorities, the US used its influence and turned the tables on Pakistan by influencing the other countries and to have them to first analyze the actions that Pakistan has already taken, according to the people who attended the meeting.
The FATF decided to place Pakistan on the grey list on the undue pressure from the United States, according to Pakistani authorities. They claim that during the meeting when the representative of Gulf Cooperation Council raised hand to speak, the US representative rushed to the GCC seat and asked the representative not to speak, according to the officials.
The FATF decision, which is against its norms, could frustrate Pakistan’s genuine efforts and the government will decide whether it should cooperate with a global body that is playing in the hands of the US, said the Pakistani authorities.
The officials said that the only weak area was that Pakistani courts were convicting terrorists but were not imposing fines on them on charges of terrorism financing.
Tweet too soon
On February 20, Foreign Minister Khawaja Asif had claimed on Twitter that there was no consensus for nominating Pakistan for listing, and that a three-month pause had been proposed. He also said that listing would be reconsidered in June.
Foreign analysts suggested that the late push against Pakistan may have been provoked by the leaking of information from the FATF meeting, with some pointing specifically to Asif’s tweet.
Despite initially agreeing to Pakistan’s viewpoint, the FATF Plenary decided to place the country on the Grey List from June, confirmed a senior government official who attended FATF meetings in Paris, France. Pakistan was previously on the Grey List from 2012 to 2015.
The federal government does not see any major impact of the FATF’s decision on its economy and the country’s de-facto finance minister said that during 2012 to 2015 period, Pakistan signed agreements with the International Monetary Fund and issued sovereign bonds in international capital markets.
Sources claim Pakistan back on FATF watch-list, govt says no ‘official intimation’ yet
Pakistan’s financial system was strong and its anti-money laundering and counter-terrorism financing regimes were among the most stringent in the world, said Dr Miftah Ismail.
The decision is seen as being against the norms of the FATF and its sister organisations, as the country’s Mutual Evaluation – a process of assessing levels of implementation of FATF recommendations, was currently undergoing.
The Mutual Evaluations also provide an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system.
The decision to place a member country on the FATF list is usually taken in light of the Mutual Evaluation, so FATF’s latest move suggests that Pakistan was falling victim to international politics, government officials said while requesting anonymity.
“Pakistan has serious concerns and objections to the introduction of this new nomination procedure, which is unprecedented and in clear violation of the established rules and practices of FATF”, the FO spokesman said on Friday.
Most of the concerns raised by the US regarding deficiencies in our Counter Financing Terrorism and Anti money laundering regime had already been addressed in 2015, when Pakistan was taken off the “grey list”.
Where from here
Now, FATF would require Pakistan to submit an Action Plan in May in order to be removed from the list in the coming months or years. Once the FATF approves this Action Plan in June, there will be a formal announcement from FATF about placing Pakistan on the Grey List.
If Pakistan fails to submit a plan, the FATF has the option of placing the country on its Black List, which carries adverse implications. This limits Pakistan’s ability to decide whether it should cooperate with the FATF or not due to the global body’s ‘unjust decision’.
The US and UK jointly submitted a resolution to the FATF nominating Pakistan for placement in the Grey List. France and Germany subsequently joined this nomination.
Reforms issues
The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT).
About two and half years ago, the global body had struck off Pakistan’s name after the country agreed to take actions against Hafiz Saeed’s Jamaat-ud-Dawa (JuD) and the Falah-e-Insaniyat Foundation (FIF) and Lashakar Tayiba.
However, some of these actions remained pending, and Pakistan only finished checking the off about two months ago. During the International Country Risk Guide (ICRG) session that took place a day before FATF plenary, some member countries had raised the question that there was no analysis available to judge Pakistan’s action, said the officials.
Upon this Adviser to Prime Minister on Finance Dr Miftah Ismail offered that Pakistan was ready to submit a report on its action plan and after that the FATF should take the decision, the officials said. At that point, Japan supported Pakistan’s view that action should be taken on the basis of the evidence.
The ICRG agreed to this proposal that Pakistan would take certain measures to address the international community’s concerns and in light of those measures the FATF should take steps in future, according to the officials.
China also advised Pakistan to sign an agreement with the FATF on the measures that it would take in next three months, said the officials.
The pre plenary meeting ended on this positive note and this was also the reason behind Foreign Minister Khawaja Asif’s tweet in which he announced that FATF deferred the decision for three months and asked the Asia Pacific Group for another report on Pakistan, according to the officials.
However, to the surprise of Pakistani authorities, the US used its influence and turned the tables on Pakistan by influencing the other countries and to have them to first analyze the actions that Pakistan has already taken, according to the people who attended the meeting.
The FATF decided to place Pakistan on the grey list on the undue pressure from the United States, according to Pakistani authorities. They claim that during the meeting when the representative of Gulf Cooperation Council raised hand to speak, the US representative rushed to the GCC seat and asked the representative not to speak, according to the officials.
The FATF decision, which is against its norms, could frustrate Pakistan’s genuine efforts and the government will decide whether it should cooperate with a global body that is playing in the hands of the US, said the Pakistani authorities.
The officials said that the only weak area was that Pakistani courts were convicting terrorists but were not imposing fines on them on charges of terrorism financing.
Tweet too soon
On February 20, Foreign Minister Khawaja Asif had claimed on Twitter that there was no consensus for nominating Pakistan for listing, and that a three-month pause had been proposed. He also said that listing would be reconsidered in June.
Foreign analysts suggested that the late push against Pakistan may have been provoked by the leaking of information from the FATF meeting, with some pointing specifically to Asif’s tweet.
waz
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No I'll make it clear for you i.e. going to the organisation itself and seeing what they have written or said, none of which correlates with what you're saying here. How hard was that?
Yes it is a closed meeting, but the outcomes have just come out, you didn't read them above?
Or shall I just take your word for it that something very secretive has happened?
Seriously do you even read what you write?
WaLeEdK2
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What's there to debate? In THEIR OFFICIAL website Pakistan isn't even on the list. Even on their Twitter page there's nothing.
Using media outlets instead of the official site shows how retarded people are. This is textbook nazi propaganda methods.
Using media outlets instead of the official site shows how retarded people are. This is textbook nazi propaganda methods.
cloud4000
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There's plenty of confusion around and media in both countries are not helping to clarify things.
I know this is from an Indian source, but the first paragraph help clarify things:
http://indianexpress.com/article/wo...-90-day-reprieve-from-fatf-grey-list-5073330/
Yes, Pakistan was not put on gray list by FATF at this time, but it will review the report by APG in 90 days on what further action to take.
CriticalThinker02
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It is certainly blowing up smoke over your peshwa *** and we can clearly see the smoke all the way here.
FATF spokesperson says organisation not responsible for media reports pertaining to Pakistan’s inclusion to the list
https://www.pakistantoday.com.pk/2018/02/23/pakistan-not-on-fatf-grey-list/
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