The decision to keep Pakistan in the ‘grey list’ was taken at the end of week-long meetings by the FATF in Paris on Friday. In the aftermath of the Pulwama terror attack, India had made a strong case against Pakistan’s non-adherence in curbing terror funding.
Pakistan is already in the grey list and has time till October to avoid getting blacklisted. As per the FATF norms, blacklisted technically referred to as countries under ‘high-risk and other monitored jurisdiction.’ Iran and North Korea are currently blacklisted.
However, with the banning of Hafiz Mohammad Saeed linked Jamaat-ud-Dawa (JuD) and its charity wing - Falah-e-Insaniat Foundation (FIF), Pakistan hoped that it will succeed to remove its name from the grey list of Paris-based Financial Action Task Force (FATF) in September this year.
India had underlined Pakistan’s alledged involvement in the Pulwama terror attack which led to the killing of 40 CRPF jawans. Jaish-e-Mohammad, a Pakistan backed terror group which has bases in the Pakistan occupied region has claimed responsibility for the fidayeen attack. India is believed to have shared details of the same, stressing how Pakistan has been unable to curb the activities or choke its funding.
The Financial Action Task Force (FATF) is an inter-governmental body established in 1989. In 2001, the FATF expanded its mandate to incorporate efforts to combat terror financing in addition to money laundering.