FATF warns action against Pak for non-compliance of anti-terror deadline

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FATF warns action against Pak for non-compliance of anti-terror deadline

International group Financial Action Task Force (FATF) that counters money-laundering and financing of terrorism activities has issued a warning to Pakistan. Reportedly, Pakistan has not complied with the laid-out targets as part of its required anti-terrorism action plan.

FATF had specified 27 areas for Pakistan to as part of its anti-terrorism tacking activities but Pakistan had achieved completion in only five areas. Accordingly, FATF has said that if Pakistan were not meet with the slated objectives by February 2020, the intergovernmental organization will be forced to take stringent action against the country.

As it stands, Pakistan is included in FATF’s nations’ “grey list”. The list contains countries that FATF feels do not take enough measures to combat financial terrorism and money laundering that would, in turn, facilitate potential terrorist activities.

In a statement calling out for action from Pakistan, FATF said, “The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020. Otherwise, should significant and sustainable progress not be made across the full range of its action plan by the next Plenary, the FATF will take action”.

This is the fourth time the deadline has been postponed. The first deadline was January 2019 that was then further pushed by four months to May 2019. After Pakistan failed to meet the objectives, the deadline was extended to October 2019.