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Pakistan stays on FATF grey list for terror funding

The global Financial Action Task Force (FATF) has retained Pakistan on the grey list and asked it to complete action on six points relating to terror financing.

A virtual FATF plenary meeting asked Pakistan to make progress on all the 27 points related to money laundering and terror financing by June, which will be followed by an on-site visit by its inspectors.

India wanted Pakistan to be pushed into the black list for persistent delinquent behaviour. Turkey was pressing for Pakistan’s progress on the remaining points to be considered proof of good intentions and wanted FATF to close the matter with an on-site inspection.

Pakistani diplomats said they would now make another attempt to get out of the grey list at the next FATF meeting in June next year.

The deadline for Pakistan to complete its FATF file was June this year, but it earned a reprieve after the plenary was postponed due to the pandemic.

The MEA had on Thursday said Pakistan has addressed only 21 action items so far out of a total of 27. “As is well known, Pakistan continues to provide safe havens to terrorist entities and individuals and has also not yet taken any action against those proscribed by the UNSC such as Masood Azhar, Dawood Ibrahim, Zakir-ur-Rahman Lakhvi etc,’’ said MEA spokesperson Anurag Srivastava.

Pakistan has been under pressure from the international community for well over two years to implement a plan of action to curb money laundering and terror financing.

Pakistan had in August imposed financial sanctions on 88 banned terror groups and their leaders, including masterminds of Mumbai and Pulwama attacks.