Paris:The terror financing watchdog Financial Action Task Force (FATF) on Friday decided to retain Pakistan on its "grey list" as six out of 27 international anti-terrorism financing norms still remain unaddressed by the country.
"To date, Pakistan has made progress across all action plan items and has now largely addressed 21 of the 27 action items. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021," the FATF said in a statement.
However, the watchdog underscored that Pakistan needs to work on four areas to "address its strategic deficiencies".The areas include law enforcement agencies are identifying and investigating the widest range of terror financing, terror financing prosecutions result in effective, proportionate and dissuasive sanctions, effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists and enforcement against violation of terror financing sanctions.
The decision was taken at a virtual press conference held after the body's three-day plenary session came to an end on Friday.In February, the FATF had given Islamabad a four-month grace period to complete its 27-point action plan, noting that Pakistan had delivered on 14 points but missed 13 other targets.However, due to COVID-19 pandemic the review meeting in July was postponed.
The FATF places those countries on its grey list which are not taking measures to combat terror funding and money laundering.Placement on the grey list is a warning for a country that it may be put on the blacklist in case of its failure to take effective measures against money laundering and terror financing.(UNI)