Islamabad, June 30: A day after being 'greylisted' by the Financial Action Task Force (FATF), Pakistan said it would implement to the 26-point action plan issued by the Paris-based global watchdog.

Pakistan has become the ninth country to be included in the grey list, for failing to curb the financial network of terrorist and proscribed organisations on its soil.

The FATF, in its recent plenary session held in Paris, said the nine countries, which have been greylisted, have failed to tackle the "strategic deficiencies" which has allowed banned organisations to financially transact and indulge in money-laundering.

List of 9 Countries on FATF Greylist:

  • Ethiopia

  • Serbia

  • Sri Lanka

  • Syria

  • Trinidad and Tobago

  • Tunisia

  • Yemen

  • Pakistan

The FATF, in its plenary session between June 24-29, formulated a 26-point action plan which the nine countries need to implement "within the next 15 months".

Here are the key pointers of the action plan which Pakistan has promised to implement:

  • It will improve inter-agency coordination between provincial and federal authorities to combat terror financing risks.

  • It will demonstrate that law-enforcement agencies (LEAs) are identifying and investigating the widest range of terrorism financing activity.

  • That terrorism financing investigations and prosecutions target designated persons and entities.

  • Identify persons and entities acting on behalf or at the direction of the designated persons or entities.

  • Demonstrate that terrorism financing prosecutions will result in effective, proportionate and dissuasive sanctions.

  • Enhance capacity and support for prosecutors and the judiciary.

  • Demonstrate enforcement against TFS violations.

  • Demonstrate that facilities and services owned or controlled by designated persons are deprived of their resources and the usage of the resources.

The International Cooperation Review Group (ICRG), whose report served as the basis of listing Pakistan, said Islamabad has taken few measures to dismantle the financial network of terrorists despite being red-flagged on numerous occasions over the past decade.

(The above story first appeared on LatestLY on Jun 30, 2018 11:40 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).