FATF retains Pak in 'grey list'

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Representational ImageSource: Uzairmaqbool from Pixabay

New Delhi, June 25: The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of UN-designated terror groups, including Hafiz Saeed and Masood Azhar.

The global body against money laundering and terror financing also asked Pakistan to work to address its strategically-important deficiencies.

FATF president Marcus Pleyer said the decision has been taken at the conclusion of the virtual plenary of the Paris-based organisation. Addressing a virtual press conference, Pleyer said the Pakistan government has failed to check risk of money laundering, leading to corruption and terror financing.

Pakistan will continue to remain on "increased monitoring list", the FATF president said. "Increased monitoring list" is also known as the 'grey list'.

Noting that Pakistan has now completed 26 of the 27 action items given to it in 2018, Pleyer said the FATF has asked Pakistan to take action against UN designated terrorists.

"The FATF encourages Pakistan to continue to make progress to address as soon as possible the one remaining Combating the Financing of Terrorism (CFT)-related item by demonstrating that Terror Financing (TF) investigations and prosecutions target senior leaders and commanders of UN designated terrorist groups," an FATF statement said.

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