23 October 2021

Pakistan to remain in 'Grey List' of Financial Action Task Force.

The Financial Action Task Force (FATF) announced that Pakistan will remain on its increased monitoring list, also called the grey list.

Pakistan has been on the grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018.

Announcing the decision, FATF President Dr Marcus Pleyer said that Pakistan had to complete two concurrent action plans with a total of 34 items.

Its most recent action plan from June this year, which largely focused on money laundering deficiencies, was issued after the FATF's regional partner — the Asia Pacific Group — identified a number of serious issues.

Commenting on the various other decisions taken during the plenary meeting, the FATF president said that Botswana and Mauritius had been taken out of the financial watchdog's grey list.

He said that Zimbabwe had completed its action plan and was awaiting on-site inspection, which would be carried out once the Covid-19 situation allowed.

Dr Pleyer also announced that Jordan, Mali and Turkey had been added to the list and had all agreed to action plans.

Source: www.dawn.com

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