New Delhi: Global financial watchdog Financial Action Task Force (FATF) has put Pakistan in an “enhanced blacklist” for the country’s failure to meet global norms against terrorism.
Islamabad now needs to focus on avoiding the blacklist in October, when the 15-month deadline ends on the FATF’s 27-point action plan.
The FATF’s Asia-Pacific division has found Pakistan non-compliant on 32 of the 40 parameters to curb money-laundering and terror financing, NDTV quoted unnamed Indian diplomatic sources as saying.
On 11 parameters of terror-funding and money-laundering, Pakistan was adjudged as low on 10. Despite its efforts, the country’s 10-member delegation led by its central bank chief could not convince the 41-member plenary to upgrade it on any parameter, the report said.
In June this year, the watchdog had issued a strong warning to Pakistan to curb terror financing by October or face consequences. It had said that the country could be blacklisted unless it fulfils an “action plan” against UN-designated terrorists operating on its soil by October.