Pakistan to be Blacklisted by the Financial Action Task Force in February 2020

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FATF blacklist Pakistan for terror funding – Pakistan has been put in an “enhanced blacklist” by Financial Action Task Force for terror funding. In June 2019, FATF issued a warning to Pakistan to control terror financing by February 2020 or get ready for the consequences.

FATF blacklist Pakistan for terror funding

FATF blacklist Pakistan for terror funding

At one time, FATF warned Pakistan that if they will don’t stop terror funding, the country could be blacklisted unless it fulfills an action plan against the UN-designated terrorists by October 2019. Now in October 2019, FATF has put Pakistan on the Grey List and has again warned to blacklist them unless they take action against terror funding and money laundering in their country before FATF’s next plenary which is due in February 2020.

In the past, India had suggested FATF to put Pakistan on the blacklist of countries that fail to fulfill international standards in stopping terror funding following Pakistan-based Jaish-e-Mohammed Chief Masood Azhar being declared a global terrorist by the UN.

The FATF APG meeting was held in Canberra, Australia and the discussions lasted for seven hours over two days. At the end of the October 2019 plenary session of the FATF, the FATF voiced their concern on Pakistan’s failure in acting on their 27-point action plan with Islamabad while pointing out that they showed compliance with only five points.

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What is the Financial Action Task Force (FAFT)?
The Financial Action Task Force (FATF) is an intergovernmental organization to develop policies to combat money laundering. In 2001 its authority expanded and terrorism financing was included.

FATF blacklist Pakistan for terror funding
The objectives of the FATF is to set standards and promote productive execution of legal, regulatory and operational measures for combating money laundering, terror financing and other related threats to the integrity of the international financial system.

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Importance of FATF?
The FATF’s role is to prevent financial crime. The Financial Action Task Force is one of the most influential organizations with regard to fighting financial crimes such as money laundering, terror financing, and other forms of corruption.


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