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FATF may keep Pak. on grey list
Why in news?
- Pakistan could escape being blacklisted by the Financial Action Task Force (FATF) on Friday, but the international watchdog on terror finance is likely to issue strong warnings to it and keeping the country on the grey list
More in news
- FATF’s International Cooperation Review Group (ICRG)- discussed Pakistan’s actions for countering terror financing and anti-money laundering (CFT/AML).
- China, Turkey and Malaysia were ranged against blacklisting Pakistan
- Mutual evaluation report by the Asia Pacific Group (APG) on CFT and AML released on October 14 assigned a national risk-rating of ‘medium’ to Pakistan.
(1) The report said that since February 2018, Pakistan had taken positive actions against these organisations “but UNSCR 1267 is not being fully implemented”.
(2) Pakistan faced “significant risks of terrorist financing both from legitimate and illegitimate sources as well as weak, or no, regulation/supervision of certain sectors (such as hawala/hundi) and porous borders.
- Pakistan is expected to be kept under “significant and sustained” pressure to deliver on the 27-point action plan by February 2020,
- Period under review” Pakistan registered 228 TF cases and convicted 58 individuals, which is not consistent with Pakistan’s overall level of TF risk, the group said.
Sources
The Hindu