Pakistan will be blacklisted in FATF in Feb 2020? Report
PARIS - Pakistan will be blacklisted by global terror funding and money laundering watchdog FATF if it does not swiftly act against terror funding by February 2020. The Financial Action Task Force (FATF) on Friday expressed serious concerns over the lack of progress made by Pakistan to address its terror financing risks.
"Pakistan needs to do more and faster. If by February 2020, Pakistan doesn't make significant progress, it will be put in the 'Black List'," FATF President Xiangmin Liu said while addressing a press conference on the last day of its five-day plenary in Paris.
While Pakistan has escaped the terror black list, according to sources, there was a consensus among members in the global watchdog to retain Pakistan in 'grey list' based on its 27-point action plan. A decision on the status of Pakistan will now be taken by FATF in February next year Sources privy to FATF deliberations added that "In light of the additional fact of Pakistan's poor performance on its Mutual Evaluation, chances of Pakistan exiting the Grey List in the next few years are now reduced to nil. The possibility of a formal Black Listing in Feb 2020 is now probable."
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