FATF announces a setback decision against Pakistan

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FATF announces a setback decision against Pakistan

*ISLAMABAD: *

The Financial Action Task Force (FATF) on Friday decided to keep Pakistan on its 'grey list' until February 2021 despite complying successfully with 21 out of 27 points of action.

The decision was made by the global watchdog for curbing terror financing and money in its virtual plenary session from October 21 to 23. It reviewed Pakistan's progress on the 27-point action plan.

FATF President Dr Marcus Pleyer announced the decision after the three-day session came to an end today.

Announcing the decision, Dr Pleyer said that once the remaining six conditions are fulfilled, a team from the FATF will visit Pakistan for the next review.

“As soon as the plenary decides that Pakistan has completed all the 27 items, then an onsite visit will be made. After that, it will be decided whether the country will be allowed to exit the grey list or not,” said the FATF president.

He said that as long as the country shows the signs of progressing and fulfilling the requirements, it will be given another opportunity.

Pakistan has been on the watchdog’s grey list since June 2018.