April 19, 2021

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Pakistan to stay on FATF grey list till June

ISLAMABAD: Pakistan will continue to stay on the grey list of the Financial Action Task Force (FATF) for another four months, i.e until June for three out of 27 unmet action plan targets on anti-money laundering and combating financing terror (AML/CFT).

“Pakistan remains in the increased monitoring list (the grey list),” announced FATF President Dr Marcus Pleyer while appreciating that the country had made significant progress on all aspects of AML/CFT action plan “but severe deficiencies still remain relating” to terror financing.

“To date, Pakistan has made progress across all action plan items and has now largely addressed 24 of the 27 action items. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan before June 2021,” said the president of Paris-based global watchdog on money laundering and terrorist financing.

In a statement, the ministry of finance said the “FATF has acknowledged the continued high-level political commitment of Pakistan to combat terrorist financing which, according to FATF statement, has led to significant progress across a comprehensive countering financing of terrorism plan”.

Read More : https://www.dawn.com/news/1609471/pakistan-to-stay-on-fatf-grey-list-till-june