Pak Remains On FATF s Grey List Amid Deficiency In Checking Terror-Financing Serious deficiency on the part of Pakistan in checking terror-financing and it is yet to demonstrate taking action against the UN-designated terrorists and their associates , says FATF
Pakistan continues to remain on the increased monitoring list ,or the Grey List . Outlook Web Bureau 2021-02-26T10:01:04+05:30 Pak Remains On FATF s Grey List Amid Deficiency In Checking Terror-Financing outlookindia.com 2021-02-26T10:06:46+05:30
Pakistan continues to remain on the Grey List of the global body, Financial Action Task Force or the FATF against money-laundering and terror-financing. There are serious deficiencies on the part of the country in checking terror-financing and it lacks an effective system to deal with it, said FATF on Thursday during its plenary in Paris
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Pakistan Remains On FATF s Grey List, Body Demands effective Sanctions On Terrorists
The body added that Pakistan needed to complete its action plan following which the FATF would verify the implementation and sustainability of its moves.
In a massive setback for Pakistan, the Financial Action Task Force (FATF) announced that the country would continue to remain on its Grey List till the time it does not demonstrate effective implementation of targeted financial sanctions against all its designated terrorists. The body added that Pakistan needed to complete its action plan following which the FATF would verify the implementation and sustainability of its moves. The Financial Action Task Force is said to hold its next meeting in June to re-analyze the nation s progress.
PM Modi
Prime Minister Narendra Modi is on a visit to Tamil Nadu and the Union Territory of Puducherry today. Prime Minister will inaugurate and lay the foundation stones for major development projects in Tamil Nadu and Puducherry during his visit.
Prime Minister Modi will launch multiple projects at a cost of Rs 12,400 crore in Coimbatore, Tamil Nadu. PM Modi will enter Puducherry at 11, where he will lay the foundation stone of the four-lane NH 45. From Sattanath Puram to Nagapattinam, this highway will be 56 km. Along with this, the foundation stone of Minor Port would also be laid under the Sagarmala scheme.
The way we grade these organisations in in three lists, continues Keating. Nearly every single outfit out there is on our Black List, unfortunately. This means they are 100%
fraudsters. If you give them money, you have lost that money. Next we have a Grey List. This is a far smaller list. These are firms that we don t yet have enough concrete feedback to say they are criminals. But we certainly couldn t recommend them as trustworthy without more evidence. Statistically speaking, Grey List firms are almost certain to end up on our Black List Then we have the White List. These are what you would expect: Firms who do what they promise, who can be trusted, and are capable of doing the work.
Highlights
The FATF has strongly urged Pakistan to swiftly complete its full action plan before June 2021.
In a statement, the FATF said, Pakistan’s continued political commitment has led to significant progress across a comprehensive CFT action plan.
In a major blow to the Imran Khan government, Pakistan on Thursday failed to exit the Financial Action Task Force`s (FATF) grey list. The FATF has strongly urged Pakistan to swiftly complete its full action plan before June 2021.
In a statement, the FATF said, Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its AML/CFT regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan’s continued political commitment has led to significant progress across a comprehensive CFT action plan, including by: demonstrating that law enforcement agencies are identifying and investigating the widest range of TF activity, demonstrating enforcem