Pakistan to remain on FATF ‘greylist’

Global money laundering watchdog the Financial Action Task Force (FATF) decided to keep Pakistan on its terrorism financing “grey list”.

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FATF President Marcus Pleyer said Pakistan must demonstrate in taking action against UN-designated terrorists and their associates. It also said once Pakistan completes three unfulfilled tasks, the FATF will verify and take decision on Islamabad’s present status in June plenary.

In its plenary held in October last year, the FATF had kept Pakistan on the grey list citing its failure to fulfill six out of 27 obligations of the global money laundering and terrorist financing watchdog.

The FATF is an inter-governmental body set up in 1989 to combat money laundering, terror financing and other related threats to the international financial system.

Currently, it has 39 members. Pakistan has been on the grey list since June 2018.