Global terror watchdog Financial Action Task Force (FATF) on Thursday announced that Pakistan will continue to remain on its grey list due to failure to comply with all the points of a plan of action set by it to combat terror financing.
The FATF said that there had been serious deficiency on the part of Pakistan in checking terror financing and hence it will continue to remain on the “increased monitoring list”, another name for the “Grey List”.
The Paris-based FATF had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019 but the deadline was extended later on due to the Covid-19 pandemic.
A virtual plenary meeting of the FATF, held over the past three days, concluded that Pakistan will continue on its grey list. FATF president Marcus Pleyer said, “Pakistan will remain under increased monitoring as serious deficiencies remain related to terror financing. While Pakistan has taken important steps, there are three important points from 27 action points remaining to be acted upon.”
Pleyer added that the deadline given to Pakistan has already expired and asked Islamabad to address their concerns “as quickly as possible”.
“There is a serious deficiency on the part of Pakistan in checking terror financing and the country is yet to demonstrate taking action against UN-designated terrorists and their associates,” he said.