Terror funding watchdog Financial Action Task Force (FATF) on Thursday, 21 October, said that Pakistan will continue to remain on the agency's 'grey list' until the country indicates that it is taking action against designated terror groups.
The grey list of the intergovernmental organisation FATF includes countries that have bee subjected to "increased monitoring."
"Pakistan has taken a number of important steps but needs to further demonstrate that investigations and prosecutions are being pursued against the senior leadership of UN-designated terror groups," FATF President Marcus Pleyer said at a press conference on Thursday, news agency PTI reported.
"All these changes are about helping authorities prevent terrorism, stop corruption and prevent organised criminals from profiting from their crimes," he was quoted as saying.
More About FATF and Its 'Grey List'
Terrorist financing watchdog FATF was set up by the G-7 countries – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – in 1989, in response to the mounting concern over money laundering.
The intergovernmental body sets international standards that aim to prevent illegal activities, and works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas, as per the organisation's website.
FATF's 'grey list' contains countries who are working with the watchdog to address the strategic deficiences in their regime, in order to counter terror financing.
"When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the “grey list,”" notes the body's website.
Various countries such as Turkey, Myanmar, Cambodia, Jamaica, and Syria are presently on the grey list.
(With inputs from PTI)
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