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Pakistan to remain in FATF’s ‘greylist’ of countries that finance terrorism

FATF

On October 21, the Financial Action Task Force (FATF) placed Pakistan back on the ‘greylist,’ stating that it needed to show that investigations and prosecutions were being pursued against senior leadership of U.N.-designated terror groups such as Lashkar-e-Taiba, Jaish-e-Mohammed, al-Qaeda, and the Taliban.

“The Pakistani government is running two action plans at the same time, with a total of 34 action plan elements. Thirty of the items have been addressed, or at least in part. Its most current action plan, dated June of this year, was produced after the FATF’s regional partner APG, or Asia Pacific Group, highlighted a number of money laundering flaws.

“The Pakistan Government has two concurrent action plans with a total of 34 action plan items. It has addressed or largely addressed 30 of the items. Its most recent action plan from June this year, which largely focussed on money laundering deficiencies, was issued after the FATF’s regional partner APG, that is Asia Pacific Group, identified a number of serious issues,” said Dr. Player.

Dr. Pleyer said that while Pakistan was making good progress on the new action plan, four of the seven items had been addressed or largely addressed, Pakistan was still assessed to have largely addressed 26 of the 27 items in the previous action plan, which focused on terrorist financing issues and dated back to June 2018.

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