The Financial Action Task Force has asked Islamabad to comply with 27 of its actionable plans by 15 December
The FATF is scheduled to meet in Sydney from 5-7 January. (Photo: Getty Images)
Dissatisfied with the measures taken by Islamabad to combat terror funding and money laundering, the Financial Action Task Force (FATF) appears to be tightening the noose around Pakistan.
It has asked Islamabad to comply with 27 of its actionable plans by 15 December, including sharing evidence for effective implementation of curbs against eight prescribed entities and their affiliates by tracing and freezing their assets.
The FATF has placed this condition to comply with the United Nations Security Council Resolution (UNSCR) 1267 and 1373 and Pakistan will have to implement it by May 2019.
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In case of non-compliance or no progress, Pakistan could be placed into blacklist or kept into existing grey list for another year anytime during January to September 2019 with far-reaching consequences, informed sources said.
READ | FATF team in Pakistan for ‘On-site Inspection’ of efforts against terror funding
The FATF is scheduled to meet in Sydney from 5-7 January to review the progress report on 670 observations raised by the Asia Pacific Group (APG) ~ a regional body of FATF ~ for showing concerns over unsatisfactory
report.
The recently-held APG mission has also given a deadline of the middle of next month to dispatch compliance report, which will be taken up by the FATF in coming January’s first week meeting at Sydney. Pakistan’s progress report and APG’s response during October 2018 visit reads out that the regional body of FATF known as APG asked Pakistan to share an explanation of which law enforcing agencies/security intelligence agencies hold information on 1,267 and 1,373 designated persons and entities and their affiliates including Daesh, Al-Qaeda, FIF, JuD, JeM, Haqqani Network and persons affiliated with Taliban.
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