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Watchdog: Pakistan Could Still Be Placed on Blacklist

Muhmmad Ikram

   WASHINGTON - Pakistan could still be placed on the blacklist of the
   Financial Action Task Force (FATF), a global watchdog monitoring terror
   financing and money laundering around the world, its president said
   last week.

   Marshall Billingslea, the president of FATF, said Pakistan could still
   be placed on its blacklist for allegedly not taking adequate action
   against terror financing and money laundering in the country.

   "There absolutely a possibility [of Pakistan being blacklisted, but
   again I would not because that's a decision for a future plenary,"
   Billingslea said in response to a question posed by a Voice of America
   reporter in Orlando, Florida, where the body convened for its recent
   meeting.

   "The period for the action plan has not expired. The next plenary is in
   October and Pakistan would be assessed," Billingslea added.

   On the gray list

   Pakistan has been in the watchdog's gray list since June 2018 for its
   alleged failure to adequately crackdown on terror financing and money
   laundering in the country. That decision was made in March 2018 in
   Paris where representatives of different member countries and
   international organizations met to discuss the global issue of money
   laundering and financial crimes.

   The designation at the time reportedly followed a motion introduced by
   the United States, along with France, Britain and Germany, alleging
   that Pakistan has failed to adhere to the FATF guidelines on terror
   financing and anti-money laundering regulations.

   Last year was not the first time that Pakistan was placed in the FATF's
   gray list. The country was on the list from 2012 to 2015.

   Pakistan has long feared that the country's economy could be hurt and
   FATF's action could take a toll on the country's access to the
   international financial markets.

   Pakistan defends its records on taking measures against militant groups
   and their terror financing networks.

   Terror financing remains a major concern and challenge in Pakistan,
   where militant groups allegedly raise money under the guise of religion
   and welfare for the poor and instead spend it on terror-related
   activities inside Pakistan, and in India and Afghanistan.

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