Pakistan on Monday objected to the recent remarks by Defence Minister Rajnath Singh that the FATF can any time blacklist the neighboring country, describing it as India’s attempts to “politicize” the international money laundering watchdog’s proceedings.
Pakistan is now in Grey list and was given time till October last to clear itself. In case of any disapproval from FATF for any new and comprehensive plan on the footings of mutual consent would make Pakistan stay on the FATF Grey list for the longest time. It may keep Pakistan on the list for at least one to two years. However, Pak’s ministry of finance rejected Singh’s remarks that Pakistan would soon be blacklisted as political propaganda.“Media reports, being circulated about Pakistan, being blacklisted by APG are incorrect and baseless,” the Pak ministry said. It also questioned India’s trustworthiness to co-chair the Asia-Pacific Joint Group on the base of India’s “incessant smear” against Pakistan and blatant partisanship.
Financial Action Task Force (FATF), is an intergovernmental organization established to combat terror financing and money laundering. As per FATF sources, Pakistan suffered set back and remained in the grey list as its enforcement of recommendations in the non-financial sector, largely due to the misperformance of law-enforcement agencies (LEAs).
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