The Paris-based global terror watchdog Financial Action Task Force (FATF) on Friday, October 18, issued a fresh deadline of February 2020 to India's nuclear-armed neighbour Pakistan to act against terror funding.
Retaining Pakistan on the Grey List, the FATF said that it will take a final decision on Pakistan's position in February 2020. "Strongly urge Pakistan to swiftly complete its full action plan by February 2020, otherwise should significant and sustainable progress not be made across the full range of its action plan by next Plenary, the FATF will take action including urging members to advise their financial institutions to give special attention to business relations/transactions with Pakistan," the FATF stated.
The anti-terror watchdog also said that Pakistan has failed in complying with 22 out of 27 suggested action plans to curb terrorism. FATF has now sent a strong warning to Islamabad, which got the four months time after it was warned of action if it fails to complete its full action plan.
The decision was taken after a five-day plenary of the Financial Action Task Force (FATF) held in Paris. The body has warned the country of action for its failure in combating money laundering and terror financing.
The FATF noted that Pakistan addressed only five out of the 27 tasks given to it in controlling funding to terror groups like the Lashkar-e-Taiba and Jaish-e-Mohammad, responsible for series of attacks in India.
"It was again decided by consensus that FATF would retain Pakistan on the Grey List and warn Pakistan that if it did not complete its full Action Plan and show significant and sustainable progress action will be taken," an official said.
Pakistan was placed on the Grey List by the Paris-based watchdog in June last year and was given a plan of action to complete it by October 2019 or face the risk of being placed on the Black List with Iran and North Korea.