Business Today

Pakistan misses 22 out of 27 FATF targets, but evades black list for now

Pakistan has reportedly been granted time till February 2020 to fulfil the full action plan given to it by FATF

twitter-logo BusinessToday.In   Paris     Last Updated: October 18, 2019  | 16:55 IST
Pakistan misses 22 out of 27 FATF targets, but evades black list for now

The Financial Action Task Force (FATF) has retained Pakistan on the Grey List after its five-day plenary in Paris. The international terror financing watchdog, however, has warned Pakistan of action for its failure to check money laundering and terror financing.

The FATF noted that Pakistan failed to meet 22 out of 27 targets given to it in controlling funding to terror outfits like Jaish-e-Mohammad and Lashkar-e-Taiba.

"It was again decided by consensus that FATF would retain Pakistan on the Grey List and warn Pakistan that if it did not complete its full action plan and show significant and sustainable progress action will be taken," news agency PTI quoted an FATF official as saying.

Pakistan was placed on the grey list by the Paris-based FATF in June last year and was given a plan of action to complete it by October 2019, or face the risk of being placed on the black list with Iran and North Korea. The country has reportedly been granted time till February 2020 to fulfil the full action plan.

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close