‘Pak may remain in FATF grey list’

In another move that could bring Pakistan closer to blacklisting by antiterror financing global watchdog Financial Action Task Force (FATF) this month or see it remain on the grey list at the very least, a report by the Asia Pacific Group (APG) on money-laundering, has shown that Pakistan has fared poorly in taking action against terrorism emanating from its soil, particularly when it comes to taking action against global terrorist and Mumbai attack mastermind

Hafiz Saeed. Islamabad has apparently complied with just one the 40 recommendations set by the FATF at the time of the country’s inclusion in the FATF’s grey list in June last year. According to the report, out of FATF's 40 recommendations on curbing money laundering and combating the financing of terrorism, Pakistan was fully compliant only on one. It was largely compliant on nine, partially compliant on 26 and non-compliant on four recommendations, according to Pakistani media reports. Pakistan faces high risks of money laundering and terror financing, the report apparently said.

The APG released its much-awaited 228-page “Mutual Evaluation Report” on Saturday, days ahead of the key FATF plenary meeting in Paris which will decide whether Pakistan should be blacklisted. Countries are placed in the "grey list" that comprises nations who are seen to have failed to fulfil their obligations to combat terrorfinancing. But a blacklisting by the FATF will have serious consequences for Pakistan globally.

The FATF’s International Cooperation Review Group had earlier requested the Asia Pacific Group to provide the revised follow-up report on the Pakistan to ICRG.