Financial Action Task Force (FATF) decides to keep Pakistan in 'grey list' for now: Reports

The Financial Action Task Force (FATF) has decided to keep Pakistan in the ‘grey list’ for now, despite India’s push to blacklist it over terror funding. The decision to keep Pakistan in the ‘grey list’ was taken at the end of week-long meetings by the FATF in Paris on Friday. Pakistan is already in the grey list and has time till October to avoid being blacklisted, technically referred to as countries under ‘high-risk and other monitored jurisdiction.’ It has bought time till October 2019 to implement the conditions set by the FATF, failing which it will fall into the ‘blacklist’. Iran and North Korea are currently blacklisted.

After Pakistan-based Jaish-e-Mohammed claimed responsibility of killing 40 CRPF jawans in Pulwama on February 14, India had made a strong case against Pakistan’s non-compliance in curbing terror funding and provided “new information” to the watchdog relating to Pakistan. The details of the terrorist group’s operation have been provided to the FATF, said an Indian official to Reuters. The Paris-headquartered FATF is a global body created to counter terrorism financing and money laundering. Over 800 officials from global multilateral bodies, including the IMF and World Bank, are in Paris for the six-day FATF gathering. The result is expected to be announced during the FATF president’s briefing on the outcome of the plenary.

“We will publish the outcome from the meeting, including our updated statements identifying high-risk and other monitored jurisdictions, at the end of the meeting, on Friday afternoon,” Alexandra Wijmenga-Daniel, FATF communications management advisor, quoted as communicating through an email.

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