The Financial Action Task Force (FATF) is all set to decide on Pakistan’s grey list status in a virtual meeting scheduled for later this month, according to a media report.
The Paris-based global money laundering and terrorist financing watchdog had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019, but the deadline was extended due to the Covid pandemic.
Seeking to wriggle out of the FATF’s grey list, debt-ridden Pakistan in August imposed financial sanctions on 88 banned terror groups and their leaders, including 26/11 Mumbai attack mastermind and Jamaat-ud-Dawa chief Hafiz Saeed, Jaish-e-Mohammed chief Masood Azhar and underworld don Dawood Ibrahim.
The virtual FATF plenary scheduled for October 21-23 will decide if Pakistan should be excluded from its grey list, based on a review of Islamabad’s performance to meet global commitments and standards on fight against money laundering and terror financing, a daily reported.
Sanctioned 88 terror groups in Aug
To wriggle out of the FATF’s grey list, Pakistan in August imposed financial sanctions on 88 banned terror groups and their leaders, including Jamaat-ud-Dawa chief Hafiz Saeed