Pakistan Likely To Remain On Financial Action Task Force Grey List Until June

Pakistan is likely to remain on the grey list of the Financial Action Task Force (FATF) for another four months until June for a couple of unmet targets under the additional criteria, a Dawn news report said. The concluding session of the plenary meeting of the FATF, a Paris-based global money laundering and terrorist financing watchdog, is due on Friday and includes Pakistan's review on the agenda. Pakistan is now targeting the full completion of the 2021 action plan on anti-money laundering and combating terror financing (AML/CFT) by the end of January 2023, the report said. Pakistan has been on the grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018. In October 2021, the FATF acknowledged Pakistan's progress on a 27-point action plan on completion of 26 items but retained the country on its "increased monitoring list" to exhibit terror financing investigations against and prosecutions of top cadres of UN-designated terror groups. At the time, FATF President Marcus Pleyer said Pakistan had to complete two concurrent action plans with a total of 34 items. "It has now addressed or largely addressed 30 of the items," he said. (IANS)

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