There is serious deficiency by Pakistan in checking terror financing, the watchdog said. (File)
New Delhi:
Indicating status quo of being on the Financial Action Task Force (FATF) grey list , the global body against money laundering and terror financing on Thursday said Pakistan will continue to remain on increased monitoring list as there are serious deficiencies in checking terror financing and the country lacks an effective system to deal with it.
After its meeting, Marcus Pleyer, president of the Paris-based FATF, said the deadline given to Pakistan has already expired and asked Islamabad to address their concerns as quickly as possible .
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The global watchdog had in October last year asked Pakistan, which has been on the FATF grey list over issues related to terror financing, to deliver on all 27 points by this February.
The Financial Action Task Force (FATF) on Thursday said it would keep Pakistan on its terrorism financing âgrey listâ.
Global terror financing watchdog said that Pakistan failed to address its strategically important deficiencies, to fully implement the 27 point action plan that the watchdog had drawn up for the Islamic Republic.
In an online press briefing from Paris, FATF President Marcus Pleyer said Islamabad had made progress but was yet to complete its action plan to overcome deficiencies in its combating of money laundering and terrorism financing.
Serious deficiency in checking terror financing, failed to fulfil 3 tasks: FATF retains Pakistan in Grey List Updated Feb 25, 2021 | 23:59 IST
Financial Action Task Force said Pakistan should demonstrate effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists . Financial Action Task Force keeps Pakistan on Grey List
Islamabad: Terror financing watchdog Financial Action Task Force (FATF) on Thursday announced its decision to keep Pakistan on its Grey List . The FATF said that Pakistan should demonstrate effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists .
It added, Pakistan courts must give effective, decisive and proportionate punishment to those involved in terrorism.
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Pakistan will continue to remain on FATF Grey List
Pakistan will continue to remain on the Grey List of the Financial Action Task Force (FATF). The Paris-based body has asked the country to demonstrate effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists. The decision came at the conclusion of the virtual FATF plenary held in Paris from February 22 to 25 to consider cases of various countries on the grey list, including Pakistan.Â
FATFÂ had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019 but the deadline was extended later on due to the COVID-19 pandemic.
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