New Delhi | Jagran News Desk: In a major setback for Pakistan, the Financial Action Task Force (FATF), the global watchdog for terror financing and money laundering, said that the Imran Khan government has not taken sufficient to fully implement a UN Security Council resolution against 26/11 Mumbai terror attack mastermind Hafiz Saeed and other UN-designated terrorists, as well as outfits like Jaish-e-Mohammed and the Lashkar-e-Taiba.

In its 228-page report, titled "Mutual Evaluation Report 2019", the watchdog said that Islamabad has not complied with four of the total 40 parameters to identify, assess and understand money-laundering and terror-financing risks associated with terror groups operating in and from the country.      

The report comes a week before the FATF announces its decision to remove or retain Pakistan in its 'grey list'. The report would provide a basis for the FATF to make its decision in an upcoming Paris meeting scheduled for October 13-18, keeping in view Pakistan's compliance with the parameters it had set earlier. 

In August this year, the FATF's Asia-Pacific Group put Pakistan in the Enhanced Expedited Follow Up List (Blacklist) after it found the country non-compliant on 32 of the 40 compliance parameters of terror financing and money laundering.

The report published on Saturday also stressed on the country's weakness pertaining to risk, policy and coordination; supervision; preventive measures; legal persons and arrangements; financial intelligence; money-laundering (ML) investigations and prosecution; confiscation; terror-financing (TF) investigations and prosecution; TF preventive measures and financial sanctions; proliferation-financing (PF) financial sanctions.

The FATF review had placed Pakistan into grey list in June 2018 and had given 27 action plans till September 2019 to comply for coming out from the grey list.

This upcoming review of the FATF meeting in Paris will now decide the fate of the country with three possibilities -- excluding it from grey and put into green list, continuing it into grey list with extended period of nine to 12 months and thirdly in worst case scenario putting the country into blacklist, having dire consequences for the country's economy.

Posted By: Abhinav Gupta