FATF Retains Pakistan in Grey list
The FATF said that there is a serious deficiency on the part of Pakistan in controlling terrorist financing and that the country has yet to demonstrate that it has taken action against UN-designated terrorists and their associates.
Imran Khan archive image. AP
New Delhi: Indicating the status quo of being on the FATF ‘gray list’, the world body against money laundering and terrorist financing said on Thursday that Pakistan will continue to be on the increased monitoring list as there are “serious deficiencies” in control. terrorism financing and the country lacks an effective system to deal with it.
After their meeting, Marcus Pleyer, chairman of the Paris-based Financial Action Task Force (FATF), said the deadline given to Pakistan has already expired and called on Islamabad to address their concerns “as quickly as possible.”
“To date, Pakistan has made progress on all elements of the action plan and has now largely addressed 24 out of 27 action elements. As all the action plan deadlines have expired,” Pleyer said in Paris at the end of its plenary session.
There is a serious deficiency on the part of Pakistan in controlling terrorist financing and the country has yet to show that it is taking action against UN-designated terrorists and their associates, he said.
He said Pakistani courts must give effective, decisive, and proportionate punishment to those involved in terrorism, a statement that comes shortly after the Pakistani Supreme Court acquittal of terrorist Omar Saeed Sheikh, the main defendant in the 2002 murder. by American journalist Daniel Pearl.
He said that Pakistan must complete three unfulfilled tasks and once it is completed, the FATF will verify and make a decision on its current status at the next plenary to be held in June.
She is a freelance blogger, writer, and speaker, and writes for various entertainment magazines.