Pakistan to remain on global terror-financing watchdog FATF’s ‘grey list’, say reports
The Financial Action Task Force on Wednesday decided to keep Pakistan in the “grey list” for failing to check the flow of funds to terror groups like Lashkar-e-Taiba and Jaish-e-Mohammed, PTI reported. However, the FATF is yet to officially announce the decision.
The decision to keep Pakistan in the “grey list” was taken at the global terror financing watchdog’s third and final plenary, held online because of the coronavirus. “The FATF plenary decided continuation of Pakistan in the ‘grey list’ till its next meeting to be held in October,” an unidentified official told PTI.
In June 2018, Pakistan was put on FATF’s “grey list” and given a 27-point action plan to implement in order to be taken off the list. In October 2019, the watchdog indicted Pakistan for failing to deliver on 22 out of 27 targets. The task force also warned Pakistan that it would be blacklisted if it failed to achieve the targets by February 2020.
India, which is a member of the global organisation, has repeatedly asked Pakistan to take necessary steps to meet international standards in stopping financial crimes. Being on a blacklist of the financial watchdog has the potential to severely cripple and isolate a country financially, which could lead to a downgraded...
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