FATF notifies action plan Pakistan must implement after placement on 'grey list'
The Financial Action Task Force (FATF) on Friday formally identified Pakistan as a country with "strategic deficiencies" in its anti-money laundering and counter-terrorism financing regime, notifying the steps the country must take to address the shortcomings. Pakistan's placement on FATF's 'grey list', which had been decided in February, had taken effect on Thursday after the country negotiated an action plan with the global illicit financing watchdog to address the deficiencies in its regime. According to a Dawn report , Pakistan reportedly committed to a 26-point action plan, which would be implemented over the next 15 months. Besides other actions, the plan includes squelching of finances of Jamaatud Dawa, Falah-i-Insaniat, Lashkar-e-Taiba, Jaish-e-Muhammad, Haqqani network and Afghan Taliban. Failure to negotiate the action plan could have led Pakistan to the blacklist. Editorial: Placing Pakistan on 'grey list' while an interim govt is in p...