Pakistan likely to remain on FATF's grey list for four more months: Report

Pakistan has been on the grey list of the Paris-based Financial Action Task Force (FATF) since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.

Islamabad: Pakistan is likely to remain on the grey list of global money laundering and terrorist financing watchdog FATF until June for failing to meet some of the targets under the additional criteria, according to a media report on Friday.

Pakistan has been on the grey list of the Paris-based Financial Action Task Force (FATF) since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.

Since then, the country continues to be on that list due to its failure to comply with the FATF mandates. The concluding session of the plenary meeting of the FATF is due on Friday and includes Pakistan's review on the agenda, the Dawn newspaper reported.

Pakistan is now targeting the full completion of the 2021 action plan on anti-money laundering and combating terror financing by the end of January 2023.

In October 2021, the FATF acknowledged Pakistan's progress on a 27-point action plan on completion of 26 items but kept the country on its ‘increased monitoring list’ to exhibit terror financing investigations against and prosecutions of top cadres of UN-designated terror groups.