Pakistan to remain in FATF grey list
New Delhi: Pakistan will remain in the Grey List of Financial Action Task Force (FATF) till February 2020 when its conduct with regard to curbing terror funding will be reviewed. Pakistan was hoping to get out of the list by showing that it has cracked down on terror groups.
Nutritional disorders can be combated by the cultivation of lifestyles inspired by gratitude
— Pope Francis
Pakistan will remain in the Grey List of Financial Action Task Force (FATF) till February 2020 when its conduct with regard to curbing terror funding will be reviewed once again to decide its fate. The intergovernmental watch dog on money laundering and terror financing is holding its meeting at Paris. During the discussions on Wednesday, it is learnt that Pakistan was asked to take quick and extra measures for complete elimination of terror financing and money laundering. Pakistan was hoping to get out of the Grey List by showing that it has cracked down on terror groups and dried up their finances. In August, the Asia Pacific Group of FATF had found Pakistan lagging on several parameters and given it some more time to act. On Wednesday too no substantial improvement was noted in its efforts. Pakistan was placed on the FATF Grey List in June 2018 for not taking substantial steps to curb terror financing. It was given a deadline till this month to act or get blacklisted. However, with China as the chair of FATF at present, it was decided to give Pakistan another four months to put its act together. The FATF decision has to be in consensus. Starting Sunday representatives from 205 countries and jurisdictions around the world, the IMF, UN, World Bank and other organisations, are in Paris for FATF meeting that ends on Friday. The six days of meetings will focus on disrupting financial flows linked to crime and terrorism and discuss ways to contribute to global safety and security. Among the important issues that are discussed include assessing whether countries are regulating the virtual asset sector to prevent its misuse for crime and terror.