HW English
International International News National

In a big blow, Asia-Pacific FATF blacklists Pakistan

Islamabad | In a major setback to Pakistan, FATF’s Asia-Pacific Group has put the country in an “enhanced blacklist” after the country failed to meet global standards.

“The APG has placed Pakistan in the Enhanced Expedited Follow Up List (Black List) for failure to meet its standards,” an Indian official close to the development was quoted as saying by PTI.

The Financial Action Task Force has found that Pakistan is non-compliant on 32 of 40 compliance parameters on money laundering and terror financing.

Also Read: “No point in talking to India”, says frustated Pakistan PM Imran Khan

On 11 effectiveness parameters of money laundering and terror financing, Pakistan was adjudged low on 10. Despite its efforts, Pakistan could not convince the 41-member panel to upgrade it on any parameter, said the officials.

Earlier in the year, FATF had warned the country to curb financing by October or face consequences. They said that they could be blacklisted unless they carried out the “Action plan”.

India and other countries have accused Pakistan of failing to take concrete actions against the terrorism against Hafiz Saeed, Maula Masood Azhar and other UN-designated terrorists, saying that their anti-terrorism laws were outdated.

Pakistan who is already facing economic problems, could face being downgraded by International Monetary Fund, World Bank and Asian Development Bank.

Related posts

2 DMK functionaries attempt self-immolation amidst protests in Tamil Nadu over Cauvery issue

News Desk

MP govt spent Rs 1.58 crore for stay of Kamal Nath, 3 officers in Switzerland

PTI

Max 1 day, 5000 protesters: Delhi Police likely to make recommendations for Jantar Mantar protest

PTI