Pakistan officially placed on FATF grey list

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WASHINGTON: Pakistan was officially placed on a terrorism financing watchdog’s grey list on Wednesday, failing the country’s efforts to avoid the designation, diplomatic sources claimed.

The report could not be confirmed independently and the FATF did not make an official announcement till late in night.

The sources said that the Financial Action Task Force (FATF) took this decision during a plenary meeting in Paris, arguing that Pakistan had failed to act against terror financing on its soil.

Earlier in the day, caretaker Finance Minister Dr Shamshad Akhtar urged the FATF to remove Pakistan from its grey list.

FATF is a global body that combats terrorist financing and money laundering. The decision to place Pakistan on the global money-laundering watchdog’s grey list was made during its plenary meeting in February this year.

As the FATF plenary began its proceedings on Wednesday, the Pakistani delegation apprised the watchdog of steps Islamabad had taken to stem money laundering and terror financing.

Earlier reports from Paris had indicated that Pakistan may get more time to take measures to implement the FATF’s anti-money laundering and terrorist financing regulations.

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