FATF to Decide Pakistan’s Grey List Status Today

Financial Action Task Force (FATF) will decide whether to retain or remove Pakistan from its ‘grey list’ at the conclusion of its three-day plenary today.

Pakistan is hopeful of being taken off the grey list as the country has successfully implemented the 27-point action plan against money laundering and terror financing (ML&TF).

Credible sources within the highest echelons of power claim that there is no excuse left for the FATF to retain Pakistan on its grey list as the country has implemented its action plan completely.

President FATF Dr. Marcus Pleyer will announce the decision regarding Pakistan’s grey list status during a press conference at the end of the hybrid plenary later today.

Meanwhile, true to form, Indian media has upped the ante in the propaganda campaign against Pakistan as it is trying to influence FATF’s decision.

Reports from across the border claim that Pakistan has failed to implement FATF’s action plan, adding that the country will either be retained on the grey list or moved to the black list.

Regardless of the Indian propaganda, FATF has openly acknowledged Pakistan’s progress in the ML&TF domain through concrete, tangible and verifiable actions, overruling the country’s chances of moving to the black list. Like always, India’s plan of putting pressure on Pakistan will fail this time as well.

In June 2018, the FATF placed Pakistan on its grey list due to strategic shortcomings in its ML&TF regime after strong lobbying from India supported by the US, the UK, and the European Union (EU).

After Pakistan’s placement on FATF’s grey list, the Pakistani government had committed to a 27-point action plan to remove deficiencies from its ML&TF regime.

Since then, Pakistan has steadily implemented the 27 points to consolidate its ML&TF regime. In its last plenary in June this year, FATF decided to retain Pakistan on its grey list as the country implemented the 26 items of the 27-point action plan.

Back then, Dr. Pleyer had said that Pakistan would not be taken off the grey list till it addresses the single remaining item on the original action plan committed to in June 2018 along with the implementation of the technical recommendations of the Asia-Pacific Group (APG), FATF’s regional partner, made in 2019.

Via: Tribune