Pak still not implementing financial sanction on UN-listed terrorists: FATF

The Financial Action Task Force (FATF) on Friday listed six "serious deficiencies" which include Islamabad's lack of implementation of financial sanctions on UN-listed terrorists -- Masood Azhar, Dawood Ibrahim, and Zakir-ur-Rahman Lakhvi.

On expected lines, Pakistan continues to be on FATF grey list, and the anti terror financing body has asked Islamabad to do more since the risks have not gone.

In response to a WION question at the presser after the three-day virtual meeting, Marcus Pleyer, FATF President said, "Since Pakistan has completed 21 of 27 items -- largely completed -- but the six outstanding items are very serious deficiencies that still have to be repaired. For that reason, the risks haven't gone. The Pakistan government must do its best to repair and to work on these outstanding six items."

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After being grey listed in June 2018, Pakistan was given an action plan with 27 items to improve and bring transparency in its financial system so that money is not used to fund terror.

The six items listed by FATF on which actions haven't been taken include "demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists and those acting for or on their behalf, preventing the raising and moving of funds... freezing assets (movable and immovable), and prohibiting access to funds and financial services".

The UN list on which international terrorists are listed is 1267. Pakistan has the highest number of its nationals on the list. Being on the grey list means, the country needs to make reforms in its financial system so that money is not used for terrorism. According to Pakistan government's own estimation, country loses $10 billion annually by being on the list.

As all action plan deadlines have expired and FATF has "strongly urged" Islamabad to swiftly complete its full action plan by February 2021. Once it completes all the action plans, an on-site visit by the FATF team will decide if action plans have indeed been implemented.

India on Thursday had reiterated that Islamabad has not taken any action on terrorists it has been providing safe havens.