PNG HAS 2 YEARS TO BE OFF THE GREY LIST; PM MARAPE

Responding to questions raised by the Sinesine-Yangumul MP Kerenga Kua in Parliament yesterday in parliament, Prime Mister James Marape has provided a timeline for PNG to get fulfil all recommendations by the Financial Action Task Force (FATF).

The Prime Minister said, PNG has 2 years to be removed from of the grey list however he has instructed the responsible agencies to work together for a period of 12 months.

He explained that one of the key area of the greylist is on money laundering.

The Prime Mister said he has instructed the police to work with the financial institutions in the country to look follow the money and prosecute suspicious accounts.

Meanwhile, the Prime Minister assured Papua New Guinea is working to prevent PNG from being added to the FATF blacklist, adding that this is not the first time PNG has been put on FATF grey list.