Islamabad:
The global terror financing watchdog FATF or Financial Action Task Force has retained Pakistan on its terrorism financing “grey list” and asked Islamabad to address at the earliest the remaining deficiencies in its financial system, according to a media report today.
Pakistan has been on the grey list of the Paris-based Financial Action Task Force (FATF) since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.
Since then, the country continues to be on that list due to its failure to comply with the FATF mandates.
The plenary on Friday decided to keep Pakistan in the ‘grey list’ despite the country claiming it has met 32 of the 34 action points, Pakistan’s Dawn newspaper reported.
The FATF encouraged Pakistan to continue making progress to address, as soon as possible, the one remaining item by continuing to demonstrate that terror financing investigations and prosecutions target most wanted terrorists and chiefs of UN-designated terrorist groups.
In response to additional deficiencies later identified in Pakistan’s 2019 APG Mutual Evaluation Report in June 2021, Pakistan provided further high-level commitment to address these strategic deficiencies pursuant to a new action plan that primarily focuses on combating money laundering.
