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Pakistan remains on FATF's grey list, given June deadline to act on terror

First Published Feb 26, 2021, 8:25 AM IST
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The development comes after Islamabad had failed to fully implement the 27 point action plan that the FATF had drawn up for Pakistan in 2018. Anish Singh reports

Retaining Pakistan on its 'grey list', Paris-based global terror financing watchdog, Financial Action Task Force has given a deadline till June to work on implementing the three remaining items in its action plan to counter terror financing and money laundering. 
 

The development comes after Islamabad had failed to fully implement the 27 point action plan that the FATF had drawn up for Pakistan in 2018.
 

"Pakistan should continue to work on implementing the three remaining items in its action plan to address its strategically important deficiencies, namely by: demonstrating that TF investigations and prosecutions target persons and entities acting on behalf or at the direction of designated persons or entities; demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions and demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists, specifically those acting for or on their behalf," the FATF said.

Retaining Pakistan on its 'grey list', Paris-based global terror financing watchdog, Financial Action Task Force has given a deadline till June to work on implementing the three remaining items in its action plan to counter terror financing and money laundering. 
 

The development comes after Islamabad had failed to fully implement the 27 point action plan that the FATF had drawn up for Pakistan in 2018.
 

"Pakistan should continue to work on implementing the three remaining items in its action plan to address its strategically important deficiencies, namely by: demonstrating that TF investigations and prosecutions target persons and entities acting on behalf or at the direction of designated persons or entities; demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions and demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists, specifically those acting for or on their behalf," the FATF said.

It said that Pakistan has now largely addressed 24 of the 27 action items.
 

FATF president Marcus Pleyer said that Pakistan has made significant progress but some serious deficiencies remain and all these deficiencies are "in the realm of terror financing". 
 

Following several rounds of meetings of its working groups since February 11, the FATF concluded its three-day virtual plenary meeting today. Pakistan has been on the FATF's grey list since June 2018.

It said that Pakistan has now largely addressed 24 of the 27 action items.
 

FATF president Marcus Pleyer said that Pakistan has made significant progress but some serious deficiencies remain and all these deficiencies are "in the realm of terror financing". 
 

Following several rounds of meetings of its working groups since February 11, the FATF concluded its three-day virtual plenary meeting today. Pakistan has been on the FATF's grey list since June 2018.

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