FATF’ sub-panel puts Pakistan on ‘enhanced blacklist’ for failing to meet global standards

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

New Delhi, August 23: The global financial watchdog FATF’s Asia-Pacific council has put Pakistan in an “enhanced blacklist” for its failure to meet the international standards, officials reported on Friday.

Pakistan is now at an edge of getting listed under ‘blacklist’ of Financial Action Task Force (FATF), if it fails to adhere to the panel’s 27-point action plan.

The FATF’s Asia-Pacific council has found Islamabad non-complaint on 32 out of 40 compliance parameters over terror financing and money laundering, according to NDTV.

On the 11th parameters of money-laundering and terror-financing, Islamabad was found low on 10. Despite numerous efforts, 10-member team of Pakistan delegation headed by the nation’s central bank head couldn’t able to convince the FATF’s 41-member panel to upgrade the nation on any parameter.

In June, the FATF has told Pakistan on Friday to “swiftly” complete its plan to curb terrorism and terror financing by October or prepare to face consequences.

According to ANI news reports, the warning was made through an official statement issued by the FATF following a preliminary meeting held in Orlando, Florida.

Pakistan has been named under the “grey list” of nations that have been reportedly inadequate in curbing terror financing and money laundering. The nation has already skipped two prior deadlines, in January and May 2019, to complete its action plan.

The statement added the FATF strongly urged Islamabad to swiftly complete its action plan by October 2019 when the last set of action plan items were slated to expire, adding, “Otherwise, the FATF will decide the next step at the time for insufficient progress.”

Earlier, India has urged the financial watchdog to put Pakistan on a blacklist of nations fail to meet the international standards in putting an end to harbouring terrorism and financing them, following the designation of Pakistan-based and backed Jaish-e-Mohammed (JeM) chief Masood Azhar as an international terrorist by the United Nations (UN).

Minimum three FATF member nations’ support to Pakistan is needed to avoid being blacklisted. Anadolu news agency has quoted a Pakistan official as reporting MalaysiaTurkey and China have backed Pakistan in ensuring “there is no imminent threat of blacklisting” by the body.

Islamabad reiterated “its commitment to take all necessary measures to ensure completion of the Action Plan in a timely manner”.

Also Read: FATF tells Pakistan to ‘swiftly’ complete ‘Action Plan’ on terrorism or face consequences

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Three burnt to death in Jharkahnd accident

Ranchi, Sep 23 (IANS) Three people were burnt to death on Monday when a coal-laden truck fell on a...

Israeli-Arab bloc backs Netanyahu’s rival Gantz (Lead)

Jerusalem, Sep 23 (IANS) Joint List, an Israeli-Arab bloc, has backed former Army chief Benny Gantz to become the country's new Prime Minister and...

Delhi Transport Minister calls meeting on Odd-Even

New Delhi, Sep 23 (IANS) Delhi Transport Minister Kailash Gahlot on Monday called a meeting of concerned departments and stakeholders to plan the Odd-Even...

INX Media case: Indrani’s statement not credible, says PC

New Delhi, Sep 23 (IANS) Indrani Mukherjee's statements are not credibile, former Finance Minister P. Chidambaram said in a reply on the status report...

No Monday Blues: Sensex up over 1,200 points

Mumbai, Sep 23 (IANS) Bull run in the domestic stock markets continued for the second straight day as the BSE Sensex rose over 1,200...
- Advertisement -

More Articles Like This