Pakistan to stay on grey list during next FATF meeting in June: Report
New Delhi : Pakistan is likely to stay on the grey list when its position will be reviewed by the Financial Action Task Force in June, reports WION quoting an official from FATF member countries on Wednesday.
The meeting of the task force is scheduled from June 16 to June 21 in Orlando, Florida.
The Pakistan’s position will be reviewed over the factors on what measures it has taken in combating the terrorism.
FATF’s Asia-Pacific Group (APG) which met in China in May wasn't impressed by Pakistan’s action on terror financing.
IN 2018, the FATF had placed Pakistan on the grey list which means the country comes under financial jurisdiction with “structural deficiencies” in anti-money laundering (AML) and combating the terror financing.
Pakistan later had given a commitment to work with the FATF and Asia Pacific group to strengthen its AML/CFT regime and to address its strategic counter- terrorist financing-related deficiencies.
As soon as the Pakistan was put on the grey list, the country had to face a loss of $10 billion and further if Pakistan fails to provide any concrete action on terror groups, the FATF may move it into the black list.
The FATF in its February meet had come hard on Pakistan saying it has not demonstrated a proper understanding of the Terror Financing risks posed by “Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban. This meet came in the backdrop of Pulwama terror attack.
Meanwhile, Pakistan on Wednesday extended airspace closure on the Indian border to June 14.