FATF blacklists Pakistan for failing to act on terror funding
In a big blow to Imran Khan, the Financial Action Task Force (FATF) has blacklisted Pakistan for failing to act on terror funding and money laundering.
The Paris-based global body's Asia-Pacific Group (APG) adjudged Pakistan on an effectiveness parameter of 10 out of 11.
It found Pakistan non-compliant on 32 compliance parameters out of 40. Pakistan failed to convince the 41-member plenary to upgrade it on any one parameter.
The FATF APG meeting was held in Canberra, Australia and the discussions lasted over seven hours over two days.
"The APG has placed Pakistan in the Enhanced Expedited Follow Up List (Black List) for failure to meet its standards," an Indian official privy to the development said.
Ealier, FATF had said that Pakistan failed to complete its action plan on terror financing, warning Islamabad to meet its commitment by October or face action.
The Paris-based global body is working to curb terrorism financing and money laundering and has asked Pakistan to reassess the operation of banned terrorist outfits in the country.
In June last year, the FATF placed Pakistan on the grey list of countries whose domestic laws are considered weak to tackle the challenges of money laundering and terrorism financing.
