FATF places Pakistan on Grey List

Islamabad Politics Report/Moazzam Raza Tabassam: Financial Action Task Force (FATF) on Thursday decided to put Pakistan on “Grey List” at the FATF-MENAFATF Plenary meeting in Paris.

The US motion, to have Pakistan added to the “grey list” of countries was reportedly backed by Britain, France and Germany.

Pakistan was also placed on the FATF grey list from 2012 to 2015

To avoid being blacklisted by a global terror financing watchdog, Pakistan has committed to a 26-point action plan to erase sources of terror funding, a plan it envisages implementing over 15 months, media reported.

According to reports, The plan, that the International Cooperation Review Group of the Asia Pacific Group submitted to the terror financing watchdog – which Pakistan committed to – requires Pakistani authorities to proactively cooperate with counterpart bilateral agencies to choke financing to Da’ish, Al Qaeda, and the Haqqani Network, as well as India-oriented terror groups Jamaat-ud-Dawa and its affiliates Lashkar-e-Toiba and Jaish-e-Mohammed.

As per Plan, Pakistan must give special focus to curb cash smuggling, narcotics trafficking, and misuse of non-profit organisations, particularly funding of all these terrorist groups.

According to reported Plan, Pakistan will have to deliver on the first goal by January next year and complete all the 26 actions by September 2019.

By May, Pakistan will have to show that terrorism financing prosecutions successfully result in effective, proportionate and dissuasive sanctions against natural and legal persons convicted of terrorism financing offences. And by September 2019, Pakistan will address the key concern of identifying and investigating the widest range of terrorism financing activities like the collection, movement or use of funds.

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