FATF to decide Pak’s fate this month

The Financial Action Task Force is all set to decide on Pakistan's grey list status in a virtual meeting scheduled later this month, according to a media report on Monday.

The Paris-based global money laundering and terrorist financing watchdog had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019 but the deadline was extended later on due to

COVID-19 pandemic.

Seeking to wriggle out of the FATF's grey list, debt-ridden Pakistan in August imposed financial sanctions on 88 banned terror groups and their leaders, including 26/11 Mumbai attack mastermind and Jamaat-udDawa (JuD) chief Hafiz Saeed, Jaish-e-Mohammed (JeM) chief Masood Azhar and underworld don Dawood Ibrahim.

The virtual FATF plenary scheduled for October 21-23 will decide if Pakistan should be excluded from its grey list.