Pakistan has made only a limited progress on curbing terror financing: FATF

Pakistan has made only "limited progress" on curbing money laundering and terrorism financing, failing to show a proper understanding of the risks posed by Islamic State, Al Qaeda and others, the Paris-based Financial Action Task Force said.

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.