Terror watchdog FATF has announced that Pakistan is to retain its position in its “grey list”. The FATF functions to stop money laundering businesses, and they are called the terrorist financing watchdog. On Thursday, the Task Force concluded to keep Pakistan on the Grey List as the country has failed to complete the action items required to be done.

These action items included keeping an eye on the money laundering business, leading to terror financing. President of FATF, Marcus Pleyer, has announced that Pakistan could complete 26 action plan items out of 27 action plan items listed in 2018.

Since June 2018, Pakistan has maintained its position in the Grey List of the FATF due to the Country’s deficiencies in the anti-money laundering regime and counter-terror financing. Pakistan has retained its place in this list, but countries like Jordan, Mali and Turkey are following the same path. Although, these three countries have agreed on the action plans of the FATF.

Contents hide
1. Background
2. Consequences faced by the Countries in the “Grey List” in 2021
3. Is there any question of blacklisting Pakistan by the FATF organization?
4. Expectations of FATF from Imran Khan’s Pakistan
5. Netizens Reacts as Pakistan Retains in ‘Grey List’

Background

Pakistan has reserved its place in the “Grey List” by the FATF in June 2018. Reportedly, Pakistan has failed to comply with the injunctions provided by the Financial Action Task Force. Pakistan has not met the global standards of FATF and has shown negligence in the prosecution and investigation of senior leaders and commanders.

President Marcus Pleyer has mentioned that Pakistan will continue to remain on the Grey List till it addresses not only the items mentioned in the original action plan of June 2018 but also the action plans handed by the Asia Pacific Group- the regional partner of FATF in 2019.

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Consequences faced by the Countries in the “Grey List” in 2021

Country Pakistan seems to have established its position in the “Grey List” of FATF. The Country will face tremendous difficulties in getting financial aid from the organizations like the International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB), the European Union, to name a few. The opposition criticizes the Imran Khan government over the incompetency to get the Country removed from the “Grey List.”

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Is there any question of blacklisting Pakistan by the FATF organization?

There is no question blacklisting Country Pakistan as it has completed almost 30 tasks out of 34. They need to demonstrate that the Country is taking necessary action against the UN-designated terrorists such as the Lashkar -e-Taiba and Jaish-e-Mohammed. In the recent meeting with FATF, Pakistan was given specific parameters to work on. The Country was asked to provide evidence that it is actively involved in the action plans and nominating individuals for the UN committee.

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Expectations of FATF from Imran Khan’s Pakistan

FATF is quite satisfied with the progress made by Pakistan in recent times. They have complied with the government of Pakistan to demonstrate the investigations and prosecutions on money laundering. They have urged the Country to do more research and prosecute with the senior leaders of the UN-designated terror groups involved in terror financing.

Netizens Reacts as Pakistan Retains in ‘Grey List’