FATF once again retains Pakistan on grey list

Despite Islamabad's efforts, the Financial Action Task Force (FATF) on Friday announced that it is retaining Pakistan on the grey list.

The FATF has been holding a virtual session in Paris since March 1 that concluded today (March 4). As per reports, the task force reviewed the Asia Pacific Group's report on Pakistan's compliance with the watchdog's prescribed action items.

The decision was announced during a press conference at the close of the meeting.

In October, the international watchdog retained Pakistan on the grey list, while noting that "good progress" had been made in completing the required action items for removal from the list.

FATF President Dr Marcus Pleyer had said that Pakistan has two concurrent action plans with a total of 34 action plan items. "It has now addressed, or largely addressed 30 of the items," he had said back in October.

Pakistan has been on the FATF’s increased monitoring list, known as the grey list, since June 2018.