Pakistan continues to remain on FATF ‘Grey List’

TIL Desk/World/Islamabad/ Pakistan continues to remain on the “Grey List” of the FATF as the global body against money-laundering and terror-financing on Thursday said there are “serious deficiencies” on the part of the country in checking terror-financing and it lacks an effective system to deal with it.

After its virtual plenary, Marcus Pleyer, president of the Paris-based Financial Action Task Force, said the deadline given to Pakistan has already expired and asked Islamabad to address their concerns “as quickly as possible”.

“To date, Pakistan has made progress across all action plan items and has now largely addressed 24 of the 27 action items. All action plan deadlines have expired,” Pleyer said in Paris at the end of the FATF’s plenary session.

There is serious deficiency on the part of Pakistan in checking terror-financing and the country is yet to demonstrate taking action against the UN-designated terrorists and their associates, he added.