Pakistan To Remain On FATF Gray List As Imran Govt Gets No Reprieve For Backing Terrorists

In a major shocker for the Imran Khan administration, Pakistan will remain in FATF’s “increased monitoring list” or “grey list till April 2022.

In a major shocker for the Prime Minister Imran Khan-led administration, Pakistan will remain in FATF’s ‘grey list’ till April 2022, the body announced on Thursday. The Financial Action Task Force made this decision on Thursday during the three-day plenary session. In its ‘High-Risk Jurisdictions subject to a Call for Action’ document, the global financing watchdog said that Islamabad needed to work towards its ‘other strategically important AML/CFT deficiencies’.

Pakistan will remain on the gray list of FATF as it failed to curb terror financing of United Nations proscribed terrorists living in its territory. The intergovernmental organization said that Pakistan needed to take more steps against terror financing.

Pakistan remains on FATF’s gray list

“Pakistan should continue to work to address its other strategically important AML/CFT deficiencies, namely by: (1) providing evidence that it actively seeks to enhance the impact of sanctions beyond its jurisdiction by nominating additional individuals and entities for designation at the UN; and (2) demonstrating an increase in ML investigations and prosecutions and that proceeds of crime continue to be restrained and confiscated in line with Pakistan’s risk profile, including working with foreign counterparts to trace, freeze, and confiscate assets,” the document said.

Pakistan was added to FATF’s gray list in July 2018 for terror financing. FATF President Dr Marcus Pleyer said that Islamabad has been addressed or largely addressed 30 of the 34 action plans.

“Pakistan has taken a number of important steps but needs to further demonstrate that investigations and prosecutions are being pursued against the senior leadership of UN-designated terror groups,” he said.

In the last session in July, FATF had kept Pakistan on the watchdog’s “increased monitoring list” or “grey list”. The intergovernmental organization had given Pakistan three months to fulfill the remaining condition by October.

Pleyer had noted that “Pakistan has made significant progress and it has largely addressed 26 out of 27 items on the action plan it first committed to in June 2018.” However, he stressed that the Imran Khan administration needs to address the item on financial terrorism.

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