Afghanistan can be placed on blacklist of FATF if it fails to pass Anti-Money Laundering Law within weeks
Islamabad: The Financial Action Task Force on Money Laundering (FATF) has indicated that Afghanistan has not passed Anti-Money Laundering Law it would be placed on a blacklist soon. The FATF will meet in June will update its blacklist.
It may be mentioned that FATF is an inter-governmental body established in 1989. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
