Pakistan to stay on global terror financing 'grey list' till Feb 2021

In a statement, the Financial Action Task Force urged Pakistan to complete an internationally agreed action plan by February 2021

significant beneficial ownership, Financial Action Task Force,FATF, Money laundering, fraud, scam, audit, companies — The "grey list" comprises countries whose controls over terrorism financing are deemed inadequate

1 min read Last Updated : Oct 23 2020 | 10:36 PM IST

A global dirty money watchdog decided on Friday to keep Pakistan on its "grey list", despite progress by Islamabad on meeting international anti-terrorism financing norms.

In a statement, the Financial Action Task Force urged Pakistan to complete an internationally agreed action plan by February 2021.

Last February, Pakistan secured an extra four months to complete the plan after missing 13 of the 27 targets that FATF had set for it in 2018 when it put Pakistan on its "grey list".

The grace period was then extended again due to the new coronavirus pandemic.

The "grey list" comprises countries whose controls over terrorism financing are deemed inadequate.