Pakistan to remain on FATF grey list till October


Financial Action Task Force (FATF) conducted a virtual plenary meeting on June 24, 2020. According to the Foreign Office, Pakistan’s case was not made up at the Financial Action Task Force (FATF) meeting held earlier this week and it would keep on being on its ‘grey list’ till October.

Pakistan was at the last meeting, allowed a six-month expansion (till June 2020) on the grey list for meeting the rest of the necessities of its activity plan with a notice that action would be taken against it in the event that it didn’t show “noteworthy and maintainable advancement particularly in indicting and punishing terrorism financing cases”. 

Pakistan has been on the grey list since June 2018. The list contains nations being observed by the watchdog for shortcomings in their anti-money laundering and anti-terrorism financing regime. Pakistan’s case was not reviewed due to the suspension of the ICRG review process for countries on the grey list by FATF on April 28, 2020.