Will Pakistan remain on the gray list or will it get relief? FATF will review on Thursday

Pakistan remain on the gray list

Islamabad: Thursday is going to be important for Pakistan. The Financial Action Task Force (FATF) will review Pakistan FATF’s efforts to curb money laundering and terror funding in a plenary meeting to be held from October 19-21. In its last virtual meeting in June, the multilateral watchdog placed Pakistan on the ‘grey list’ for failing to adequately investigate and prosecute leaders of UN-designated terrorist groups. Also asked the country to implement a new action plan to combat money laundering.

The FATF meeting to be held on Thursday will be held in a hybrid format. This organization will issue its updated statement on the countries kept in the gray list including Pakistan. All the countries in the gray list have strategic deficiencies in their measures to combat money laundering and terror financing.

The monitoring body said, ‘In the meeting that lasts for three days, people joining the meeting from Paris will be connected virtually to the rest of the representatives. This meeting will last for three days and will discuss the key issues of strong global action against financial flows to increase crime and terror.

In fact, in June 2018, the Financial Action Task Force (FATF), after Pakistan was included in the ‘Grey’ list, gave a 27-point action plan, which was related to curbing money laundering and terror funding. According to the notification issued at the end of the recent plenary session of the Financial Action Task Force (FATF), Pakistan has done some work in the 27-point action plan proposed by the FATF. Pakistan has worked on 21 points.

Pakistan remain on the gray list

However, retaining Pakistan in the grey list, the Financial Action Task Force (FATF) said that there are still 6 topics to be addressed, so Pakistan will have until February 2021 to complete the 27-point action plan. was given. But after that Pakistan did not work.

Points that Pakistan failed to address include taking action against non-profit organizations linked to terrorist groups banned by the United Nations Security Council (UNSC) and Lashkar-e-Taiba (LeT) chief Hafiz Saeed, Zakiur Rehman Lakhvi, Delay in prosecuting Jaish-e-Mohammed chief Masood Azhar, etc.