What is FATF and why is Pakistan on 'grey list'

On Eve of FATF Decision on 'Grey Listing', India Says Pakistan Is Safe Haven for Terrorists

Diplomatic sources told ARY News that Pakistan is likely to remain in FATF grey list, however, there is no expectation from FATF to push the country in its blacklist.

Pakistan will stay on the "grey list" of the global terror financing watchdog till February next year, the body ruled on Friday, as the country failed to meet the conditions needed for unfettered access to worldwide funds.

"Pakistan remains in the increased monitoring list or the grey list", FATF president Marcus Pleyer said at a virtual press conference from Paris.

Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the "grey" list of the FATF.

In August, Pakistan 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.

After being greylisted in June 2018, Pakistan was given an action plan with 27 items to improve and bring transparency in its financial system so that money is not used to fund terror.

Pakistan had been on the FATF blacklist for years before it was removed in 2015 following "significant progress" in fighting terror financing.

He said that the new deadline for Pakistan to fulfil the remaining conditions is February 2021 when the next plenary meeting will take place. "After that, it will be decided whether the country will be allowed to exit the grey list or not". Pakistan was placed on the grey list by the FATF in June 2018 and was given a plan of action to complete it by October 2019.

Pleyer said that the FATF members had decided "by consensus" that Pakistan needed to work on the six outstanding items before his agency would consider sending its team for an "on-site visit" to review progress and determine whether to remove the country from the gray list.

Besides, FATF has strongly noted the fact that there was sudden disappearance of the names of more than 4,000 terrorists from its original list of 7,600 under Schedule IV of its Anti-Terrorism Act.

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"We are expecting a positive nod from the FATF's apex body", he said.

"Instead of current Action Plan, discussions remained focused on how Pakistan can be facilitated for our upcoming 2nd evaluation (MER), due mid next year".

India on October 22 had reiterated that Islamabad has not taken any action on terrorist it has been providing safe havens.

This month, the Asia-Pacific Group (APG) on Money Laundering had also retained Pakistan on its "Enhanced Follow-Up" list for a meager progress on technical recommendations of FATF to fight money laundering and terror financing.

The FATF finally chose to keep Pakistan in the "greylist", as was earlier reported by The Hindu.

In all these points, Pakistan " s progress was slow, sources said.

The global money-laundering and terror-financing watchdog, is holding its plenary session from October 21 will decide the fate of Pakistan.

Foreign Minister Shah Mahmood Qureshi says India's wish to see Pakistan black listed won't come true. To avoid "black" list, it needed the support of three countries. China, Turkey and Malaysia are its consistent supporters. So far, only two countries have been blacklisted, they are Iran and North Korea.

The FATF is an inter-governmental body established in 1989 to combat money laundering, terror financing and other related threats to the integrity of the worldwide financial system. The FATF now has 39 members, including two regional organisations, the European Commission and Gulf Cooperation Council.

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