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Pakistan still on FATF’s Grey List

ISLAMABAD: Pakistan will stay on the Financial Action Task Force’s (FATF) Grey List until at least June 2021.

Pakistan fulfilled 24 out of 27 action plans while the country has been asked to comply with the remaining three points related to terror financing and the effective implementation of United Nations Security Council (UNSC) Resolutions 1267 and 1373 against all designated terrorists.

FATF’s President Dr Marcus Pleyer said, “Pakistan will remain on the grey list as some deficiencies still exist as out of 27 action plans, three still need to be addressed. I urge Pakistan to fully implement the action plan. When Pakistan completes its whole action, our onsite visit will verify sustainability and then FATF members will decide about Pakistan in the next plenary meeting in June 2021”.

Pakistani journalists attending the FATF virtual news briefing complained that many Indian journalists were allowed to ask questions while many Pakistani journalists did not get a chance to ask questions despite raising their hand.

“Pakistan should continue to work on implementing the three remaining items in its action plan to address its strategically important deficiencies, namely by: (1) demonstrating that TF investigations and prosecutions target persons and entities acting on behalf or at the direction of the designated persons or entities; (2) demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions; and (3) demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists, specifically those acting for or on their behalf,” the FATF demanded.

The FATF acknowledged the progress made by Pakistan for fulfilling 24 out of 27 points, while only 3 points remain.

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