Dr. Marcus Player, president of the Financial Action Task Force (FATF), says digital transformation can be a game changer in the fight against money laundering.

This was stated by Dr. Marcus Player, President of the Financial Action Task Force (FATF), while addressing a global conference on money laundering in Berlin.

He said that public and private sectors should work together to tackle money laundering.

Dr. Marx added that the public and private sectors should also work together to stop the financing of terrorists.

The FATF president also said that working individually would not solve the real problems.

More than 100 experts in financial crime, data protection and technology are attending the global conference in Berlin.

The FATF meeting will continue till June 17. On the last day of the meeting, it will be decided whether to put different countries in the gray or black list or not.

Possibility of getting out of Pakistan’s gray list

The FATF meeting will also review the report on the implementation of 34 points of the two action plans given to Pakistan and will decide on an on-site visit to Pakistan to review the implementation of these points.

According to reports, the plenary meeting of FATF to be held in October this year in Paris, the capital of France, will decide to remove Pakistan from the gray list.

The FATF Joint Assessment Group will visit Pakistan in July or August to review the implementation of the Action Plan.

According to sources, Pakistan has fully implemented the 34 points of the FATF and has intensified diplomatic efforts for its success.

There is a strong possibility that Pakistan will be removed from the FATF gray list this year.