Islamabad: Pakistan has suffered a major setback from the Financial Action Task Force (FATF). The FATF monitors terror funding worldwide. It is headquartered in Paris. The FATF has decided to put Pakistan on its gray list by February 2020. It is expected to be officially announced by Friday afternoon.
The FATF on Tuesday decided to keep Pakistan in its gray list until February 2020. The FATF has taken this decision on funding of Pakistani terrorists and using black money. Pakistan is severely accused of patronizing terrorists and promoting terrorism. Pakistan's main newspaper Dawn said in its report that the FATF meeting reviewed Pakistan's activities, besides money laundering and measures taken to control terrorists' funding. It says that Pakistan will have to take more stringent measures on both the parameters in the next four months.
Apart from Dawn, other print and electronic media in Pakistan reported that the FATF linked the blacklisting decision with an unsatisfactory move to stop money laundering and terror funding. The FATF will formally announce its decision at 12:00 pm on Friday afternoon.
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