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FATF to monitor Pakistan’s progress in tackling terror financing: report

Pakistan is still on the grey list

SAMAA | - Posted: Aug 23, 2019 | Last Updated: 2 years ago
SAMAA |
Posted: Aug 23, 2019 | Last Updated: 2 years ago
FATF to monitor Pakistan’s progress in tackling terror financing: report

Photo: AFP

The Financial Action Task Force will monitor Pakistan’s progress in implementing an agreed plan against terror financing ahead of its meeting in October, Reuters reported Friday.

The Asia Pacific Group of the FATF had adopted Pakistan’s third mutual evaluation report, which identified a number of areas where further action was required to strengthen anti-money laundering and combating the financing of terrorism framework.

The APG will review the MER and present its report to the FATF next month. On the basis of the APG report, the FATF will make a decision in October whether to exclude Pakistan from its grey list, keep it there or put it on the black list.

Related: Finance ministry denies Indian reports that FATF blacklisted Pakistan

In June, the FATF had given Pakistan four months (till October) to improve its “counter-terrorist financing” operations in accordance with the agreed plan.

In a statement on its website, the FATF had expressed concern that “not only did Pakistan fail to complete its action plan items by January deadline; it also failed to complete its action plan items due May 2019.

“The FATF strongly urges Pakistan to swiftly complete its action plan by October 2019 when the last set of action plan items are set to expire,” the FATF statement said. “Otherwise, the FATF will decide the next step at that time for insufficient progress.”

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FATF, Pakistan, APG, India, China, Terror funding
 

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