Pakistan has been enlisted in the Enhanced Expedited Follow up List (Blacklist) by the inter-governmental organisation Financial Action Task Force (FATF) for not meeting global standards on Friday.
The Asia-Pacific group (APG) of the FATF found Pakistan violating 32 of its 40 parameters of money laundering and terror financing.
The 41-member panel of the FATF was not convinced despite Pakistan’s best efforts to prove itself otherwise. The FATF APG was held in Canberra in Australia over two days for 7 hours.
Earlier in June 2019, the FATF had warned Pakistan to stop terror financing or it will face the blacklist tag.
Pakistan has time till October to avoid being blacklisted as per the FATF’s 27-point action plan.