Pakistan has failed to curb terror finance, to remain on 'grey list': FATF

The FATF said on Friday that it would continue to work with Pakistan, which had been hoping to get off a “grey list” of nations with inadequate controls over such activities.

“Given the limited progress on action plan items ... the FATF urges Pakistan to swiftly complete its action plan, particularly those with timelines of May 2019,” the FATF said in a statement.

In a statement, the Paris-headquartered Financial Action Task Force (FATF) said Pakistan should continue to work on implementing its action plan to address its strategic deficiencies, including by adequately demonstrating its proper understanding of the terror financing risks posed by the terrorist groups and conducting supervision on a risk-sensitive basis.

"The FATF notes with grave concern and condemns the violent terrorist attack last week that killed at least 40 Indian security forces in Pulwama in the State of Jammu and Kashmir," it said after the week-long FATF plenary held in Paris.

"Pakistan has revised its TF (terror financing) risk assessment. However, it does not demonstrate a proper understanding of the TF risks posed by Daesh (ISIS), AL-Qaida, JuD (Jamat-ud-Dawa), FIF (Falah-e-Insaniat Foundation), LeT (Lashkar-e-Taiba), JeM (Jaish-e-Mohammad), HQN (Haqqani Network) and persons affiliated with the Taliban," the statement said.

Forty CRPF personnel were killed and five injured on February 14 in one of the deadliest terror strikes in Jammu and Kashmir when a suicide bomber blew up an explosive-laden vehicle near their bus in Pulwama district in Jammu and Kashmir.

The bus was part of a convoy of 78 vehicles carrying Central Reserve Police Force (CRPF) personnel from Jammu to Srinagar.

The Jaish-e-Mohammad claimed responsibility for the attack.