Pakistan is finally removed off the FATF’s Grey List.
According to reports, the Financial Action Task Force (FATF), a worldwide money laundering and terrorist funding watchdog, has removed Pakistan off its grey list. The decision’s formal announcement is coming soon.
On June 28, 2018, the nation was included to the Financial Action Task Force’s (FATF) heightened surveillance list, also known as the grey list.
FATF said during its June meeting that Pakistan has basically finished its two action plans, but that on-site checks are necessary to verify the country’s execution.
The foreign office said last month in a statement that the FATF’s most recent appraisal of Pakistan trumps prior years’ results.
Pakistan has not only achieved a high level of technical compliance with FATF standards as a result of its strenuous and consistent efforts over the last four years, but it has also ensured a high level of effectiveness through the implementation of two comprehensive FATF Action Plans, and it is committed to continuing its efforts in this regard.
Pakistan was originally put on the FATF grey list in 2008 for failing to fulfil international anti-money laundering (AML) and counter-terrorism financing (CFT) criteria.
Pakistan was removed off the list in 2010 after upgrading its AML/CFT regime. Pakistan was put on the grey list again in 2012 and stayed there till 2015.
