Pakistan failed to fulfil six key obligations of the Financial Action Task Force (FATF) and will continue to remain in the ‘grey’ list of the financing watchdog till February 2021. The global money laundering and terrorist financing watchdog made the announcement on Friday. One of the reasons for keeping Pakistan in the ‘grey’ list is its failure to take action against two of India’s most wanted terrorists — Masood Azhar and Hafiz Saeed, news agency PTI reported.

The virtual plenary of the Financial Action Task Force (FATF), held in the last three days, concluded that Pakistan will continue in its ‘grey’ list.

The decision has been taken after a thorough review of Pakistan’s performance in fulfilling the global commitments and standards on the fight against money laundering and terror financing.

“Pakistan remains in the increased monitoring list or the grey list,” FATF president Marcus Pleyer said at a virtual press conference from Paris.