Under the German Presidency of Dr. Marcus Pleyer, delegates representing 206 members of the Global Network and observer organizations, including the International Monetary Fund, the United Nations, and the Egmont Group of Financial Intelligence Units, took part in the FATF Plenary on 1-4 March 2022. The event was held in a hybrid format with a significant number of participants expected in person due to the gradual easing of COVID-19 related restrictions in many countries.
During four days of meetings, delegates discuss key issues, including revisions to the FATF Recommendations to strengthen the transparency of beneficial ownership information, a priority for the FATF and the international community. Delegates also finalize a report that focuses on the money laundering and terrorist financing risks arising from migrant smuggling. They will discuss the assessment of France’s measures to combat money laundering and terrorist financing and hear the progress made by some jurisdictions identified as presenting a risk to the financial system.
The body acknowledged Pakistan’s efforts despite numerous constraints as it met 26 compliance protocols out of the given 27. The experts predict that Pakistan would like to make an exit from the grey list in the upcoming meeting to be held in June.