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FATF continues to place Pakistan in ‘Grey List’, warns of action if it fails to see terror funding

NEW DELHI: Global terror financing watchdog FATF on Friday decided continuation of Pakistan within the "Grey List" and warned the country that stern action are going to be taken if it fails to see flow of cash to terror groups just like the LeT and therefore the JeM, sources said.

The decision has been taken at the Financial Action Task Force's plenary in Paris. The FATF decided to continue Pakistani within the "Grey List". The FATF also warned Pakistan that if it doesn't complete a full action plan by June, it could lead on to consequences on its businesses, a source said.

According to a report within the Dawn newspaper, the international terror financing watchdog was set to offer Pakistan time till June 2020 to realize full compliance with its 27-point action plan and secure exit from the FATF grey list.

Sources from Paris said that Pakistan was found fully or on the brink of fully compliant on quite half the 27 targets. "We are satisfied with the progress thus far . There was no case in the least for blacklisting us," a source was quoted as saying within the report.

Pakistan is already finalising major amendments to a minimum of a dozen of its laws to satisfy the FATF requirements by June this year.

Based on that, the country's performance would be judged within the next FATF plenary in October 2020, the report said. Pakistan submitted a 650-page review report back to the FATF on January 8.

The report was submitted in response to 150 questions raised by the FATF regarding new Pakistani policies on concealment . The report outlined the steps taken by Pakistan between October 2019 to January 2020 to implement the group's recommendations.

In January, Pakistan urged the US to support its bid to exit from FATF's grey list before a key meeting of the international terror financing watchdog in Beijing during which Islamabad's efforts to adopt stricter laws against terror financing and concealment were scrutinised.

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