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Pakistan to remain in ‘Grey List’ of global terror financing watchdog: FATF

Moneycontrol logo Moneycontrol 21-10-2021 Jagyaseni Biswas
Pakistan to remain in ‘Grey List’ of global terror financing watchdog: FATF © Jagyaseni Biswas Pakistan to remain in ‘Grey List’ of global terror financing watchdog: FATF

Financial Action Task Force (FATF) President Marcus Pleyer said on October 21 that Pakistan will remain in its ‘Grey List’.

Announcing the decision, the global terror financing watchdog said: “Pakistan remains under increased monitoring (grey list). Its government has the 34-point action plan of which 30 items have been addressed.”

It added: “Pakistan has largely addressed 30 of the 34 items. Its most recent action plan, which was in June this year, focused on money laundering.”

Marcus Pleyer, however, clarified that there is no question of blacklisting Pakistan now as it has been cooperating with the FATF action plan.

FATF, which had been in session for three days since October 19, has added three new countries to the FATF list, namely, Jordan, Mali, and Turkey. They have all agreed on an action plan with the FATF.

Meanwhile, Mauritius and Botswana have been removed from the Grey List. Talking about them, Pleyer said: “FATF congratulates Mauritius and Botswana for being removed from the grey list.”

Moving on to Afghanistan the terror financing watchdog said: “The FATF together with the Asia/Pacific Group on Money Laundering (APG), the Eurasian Group on combating money laundering and financing of terrorism (EAG), and Global Network will closely monitor the situation in Afghanistan, including any changes to money laundering and terrorist financing risks in the country.”

It added: “The Financial Action Task Force expresses its concern about the current evolving money laundering and terrorist financing risk environment in Afghanistan. We affirm recent United Nations Security Council (UNSC) resolutions on the situation Afghanistan. We demand that country not be used to plan or finance terrorist acts.”

(With agency inputs)

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