Doonited FATF: Pak remains in terror ‘Grey List’News
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FATF: Pak remains in terror ‘Grey List’

FATF: Pak remains in terror ‘Grey List’
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Pakistan has been handed out an 8-point list by global watchdog FATF that Prime Minister Imran Khan’s government will have to deliver on within the next four months. The Paris-based Financial Action Task Force, which has retained Pakistan on its ‘grey list’, has warned Islamabad that it could end up on the blacklist when it makes a fresh assessment in four months.

Pakistan had last returned to the FATF ‘grey list’ in June 2018 when the global anti-terror funding watchdog found deficiencies in Islamabad’s money laundering and anti-terror funding laws and their implementation. It had come up with a 27-point to-do list for Pakistan and given it 15 months to get working.

As Islamabad slipped on the deadlines, the FATF has more than once wielded the threat of placing it in the black list if it did not move fast enough. This would entail harsher sanctions and intense scrutiny of all financial transactions. Currently, only Iran and North Korea are on the black list.

This time, the 39-member FATF plenary meeting found Pakistan had failed to deliver on 13 of the 27 points in the action plan that it had pledged to implement. Barring Turkey, the 39-member multilateral watchdog expressed serious concern at Pakistan’s missing another deadline to curb terror financing risks emanating from its territory.

As part of the 8 points that Pakistan should focus on, Prime Minister Imran Khan’s government has been told to demonstrate that his security agencies detect and probe the ‘widest range’ of terror financing and these investigations target designated individuals and terror groups. PM Khan, for one, would also have to show that the probes culminate in ‘effective, proportionate and dissuasive sanctions’ (convictions).

Another pointer for Khan’s administration, which if implemented could break the back of terrorism in his country, requires the government to implement ‘targeted financial sanctions’ against all UN designated terrorists and prohibiting their access to funding.


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Post source : Agency

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