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FATF retains Pak on grey list
International

FATF retains Pak on grey list

Pennews

The international terror financing watchdog FATF on Friday retained Pakistan on the Grey List and warned it of action for its failure in combating money laundering and terror financing, officials said.

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 a 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 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.