Pakistan remains on FATF 'Grey List'; task force warns country of action for failure to curb money laundering, terror financing

  • FATF on Friday retained Pakistan on the Grey List and warned the country of action for its failure in combating money laundering and terror financing

  • The decision was taken after a five-day plenary of the Financial Action Task Force (FATF) held in Paris

  • The FATF noted that Pakistan addressed only five out of the 27 tasks given to it in controlling funding to terror groups like the Lashkar-e-Taiba and Jaish-e-Mohammad

Paris: International terror financing watchdog FATF on Friday retained Pakistan on the Grey List and warned the country of action for its failure in combating money laundering and terror financing, officials said.

 Pakistan remains on FATF Grey List; task force warns country of action for failure to curb money laundering, terror financing

File image of Pakistan prime minister Imran Khan. AP

The decision was taken after a five-day plenary of the Financial Action Task Force (FATF) held in Paris.

The FATF noted that Pakistan addressed only five out of the 27 tasks given to it in controlling funding to terror groups like the Lashkar-e-Taiba and Jaish-e-Mohammad, responsible for series of attacks in India.

"It was again decided by consensus that FATF would retain Pakistan on the Grey List and warn Pakistan that if it did not complete its full Action Plan and show significant and sustainable progress action will be taken," an official privy to the development said.

Pakistan was placed on the Grey List by the Paris-based watchdog in June last year and was given a plan of action to complete it by October 2019 or face the risk of being placed on the Black List with Iran and North Korea.

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Updated Date: Oct 18, 2019 15:57:01 IST