ISLAMABAD – Pakistan to remain on Financial Action Task Force greylist,claims Indian media Report.
Pakistan will remain in the grey list of the Financial Action Task Force(FATF), sources told news agency ANI on Tuesday. Turkey and Malaysiasupported Pakistan.
This comes after Pakistan submitted a report on action regarding theimplementation of the watchdog`s plan of action during the Paris meeting.
FATF on Tuesday evaluated whether the south Asian nation has takensufficient steps and implemented its plan of action to fight the globalmenace.
The FATF, a global terror financing watchdog, in 2018 placed Pakistan onthe grey list and the watchdog has already granted Islamabad an extensiontill February 2020 during a meeting in October 2019.
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The FATF had warned that Islamabad would be put on the blacklist if it didnot comply with the remaining 22 out of 27 points related to anti-moneylaundering and counter-terrorist financing.
If blacklisted, Pakistan would have to face isolation from theinternational banking system, introducing stricter checks and safeguards ontransactions involving the country.
The progress of a FATF initiative to combat financial flows from theillegal wildlife trade, adopting guidance on digital identity, anddevelopments in the financing of ISIL, Al-Qaeda, and affiliates were someof the issues that were discussed during the meeting.
