Failing to fully comply with FATF action plan, Pakistan remains on grey list: Reports

The Financial Action Task Force (FATF) on October 23 voted to keep Pakistan on a grey list for its failure to fully comply with a 27-point action plan, Hindustan Times reported. 

This despite the Imran Khan-led government's attempt to wriggle out of the grey list by hiring an American lobbying firm to push for a pro-Islamabad line.

According to earlier reports, Pakistan has been unable to comply with six of the 27 points in the global watchdog's action plan.

The Paris-based global watchdog for curbing terror financing and money laundering was holding its virtual plenary session from October 21 to 23. During the session, it was also expected to review Pakistan's progress on the 27-point action plan.

FATF had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement an action plan to curb money laundering and terror financing by the end of 2019, but the deadline was extended later on due to the COVID-19 pandemic.

Earlier reports had indicated that while Pakistan had not managed to exit the grey list, it had avoided being blacklisted and that it has succeeded in making 20 percent progress in the remaining six points of the action plan.

The International Cooperation Review Group of the FATF acknowledged that Pakistan had complied with 21 points of the action plan, The Express Tribune reported.

Pakistan had won a three-month further extension to complete FATF's 27-point action plan because of the coronavirus pandemic.