FATF to decide Pakistan's status today

Cheryl Sanders
October 24, 2020

The Financial Action Task Force (FATF) has chose to maintain Pakistan s status on its grey list of countries. Ismail said that decisions regarding the FATF are jointly taken by the military and political leadership.

The FATF chief said Pakistan has been put in the "grey" list after finding it high risk of terror financing in 2018.

As of this year, there are only two countries on the FATF's black list - North Korea and Iran.

Pakistan will stay on the "grey list" of the global terror financing watchdog till February next year, the body ruled on Friday, as the country failed to meet the conditions needed for unfettered access to worldwide funds.

Pleyer said Pakistan has been given a chance to fix their progress. He called PTI "Pakistan Tahreek Incompetence". "There are some countries which are not making progress and have been placed on the black list", said Dr Pleyer. Within 2yrs PMLN govt in 2015 we were in "white list". It emerged that Pakistan could not come off FATF grey list during the ongoing plenary meeting commenced from October 21 (today). "PTI is Pakistan Tahreek Incompetence?" he tweeted.

"This is indicative of the confidence of FATF on the efforts of Pakistani government", said a Finance Ministry statement issued in Islamabad.

"Pakistan has completed 21 out of 27 items. For that reason, the risks haven't gone, Pakistan govt must do its best to fix and to work on these outstanding six items".

There is also a need to demonstrate that TF prosecutions result in effective, proportionate and dissuasive sanctions, it added.

1267 is the United Nations list on which global terrorists are listed.

Not only that, it had opposed Pakistan's exit from the grey list.

The FATF also made assessment on Pakistan's cooperating and taking action to identify and taking enforcement action against illegal money or value transfer services.

As all action plan deadlines have expired and FATF has "strongly urged" Islamabad to swiftly complete its full action plan by February 2021.

It took action to identify and sanction illegal MVTS, implementing cross-border currency and BNI controls, improving worldwide cooperation in terrorist financing cases, passing amendments to the ATA to increase the sanctioning authority, financial institutions implementing targeted financial sanctions and applying sanctions for AML/CFT violations, and controlling facilities and services owned or controlled by designated persons and entities, according to the global body.

The terrorists listed by India are responsible for a number of terror attacks in India like 26/11 Mumbai terror attacks.

The EU reviewed the progress made by Pakistan on the FATF's recommendations and urged the country to fight terrorism, money laundering and financial terrorism - areas which comprise the remaining six conditions the country must comply with.

Foreign Minister Shah Mahmood Qureshi, while speaking to the media earlier in the day, had said India would fail in its efforts to blacklist Pakistan at Financial Action Task Force once again. Islamabad completed the implementation of most of the FATF action points related to Financial Action Task Force and it was also admitted in a report compiled by International Co-operation Review Group (ICRG). "Six important action items are yet to be addressed", he had said.

The FATF had put Pakistan on its "grey list" in 2018 for failing to contain terror financing in the country.

"As long as we see that the country is progressing with the action items - and we have seen progress with Pakistan - we give them a chance to fix the outstanding issues", Pleyer said when asked whether FATF has set a deadline for the country to comply with all the commitments.

Srivastava claimed that Pakistan had carried out 3,800 unprovoked ceasefire violations in 2020.

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