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To Exit FATF Grey List, Pakistan Needs To Enact More Legislations, Deadline Scheduled Is June

As Pakistan remains on the ‘grey list’ of the terror financing watchdog Financial Action Task Force (FATF), it will have to enact laws on at least two counts to meet the outstanding points of the Financial Action Task Force’s (FATF) action plan to meet the June deadline.

According to a report by Dawn, aside from further legislations, the Pakistan government will have to submit an updated report within a month to the FATF on the progress on legislation and other steps to be taken to address the outstanding issues.

The Pakistani daily’s report said the additional legislation has to cover weaknesses in the existing framework, including apprehending those acting for or on behalf of designated terrorist entities or individuals and prosecuting targeted persons and entities or those working for them.

The three remaining FATF points include demonstrating that terrorist financing (TF) investigations and prosecutions target persons and entities acting on behalf or at the direction of the designated persons or entities; demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions; and demonstrating effective implementation of targeted financial sanctions against all designated terrorists, specifically those acting for or on their behalf.

Global terror financing watchdog last week retained Pakistan on its “grey list” till June after concluding that Islamabad failed to address its strategically important deficiencies, to fully implement the action plan that the watchdog had drawn up for Pakistan.

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