Pakistan to remain oñ Grey list

By Special Correspondent

Islamabad: Pakistan will remain on the ‘grey’ list of the FATF until February 2021, as it failed to fulfill six-core obligations of global money laundering and terrorist fundig, officials said on Friday.

The virtual plenary of the Financial Action Task Force (FATF) held in the last three days concluded that Pakistan would remain on its ‘grey’ list. The decision was taken after a comprehensive review of Pakistan’s success in meeting global commitments and expectations on the war against money laundering and terrorist financing.

“Pakistan remains in the increased monitoring list or the grey list,” FATF president Marcus Pleyer said at a virtual press conference from Paris. Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be on the grey list of the FATF.

“Pakistan failed to fulfill six of the 27 mandates given to check terror funding,” Pleyer said. The FATF chief said Islamabad must impose sanctions and prosecute those involved in terror financing. “Pakistan needs to do more on checking terror funding, it can’t stop now,” he said.

Sources said that the tasks that Pakistan failed to accomplish include failing to take action against all UN-appointed terrorists, such as Jaish-e-Mohammed (JeM) Leader Azhar, Lashker-e-Taiba (LeT) Founder Seed, and Operational Leader Zakiur Rehman Lakhvi.

In addition, sources said, the FATF noted the sudden absence of the names of more than 4,000 terrorists from its original list of 7,600 under Schedule IV of its Anti-Terrorism Act.

Pakistan’s status will be subject to review at the next FATF meeting in February next year.

(Inputs from PTI)