PARIS
The Financial Action Task Force (FATF) — the world’s money laundering and terror-financing watchdog — said on Friday that Pakistan has been removed from the grey list and is no longer subject to its increased monitoring process.
The Paris-based inter-governmental body had put Pakistan on its grey list of untrustworthy jurisdictions in June 2018 because of “strategic counter-terrorist financing-related deficiencies.”
FATF President Raja Kumar, in his press conference at the conclusion of its plenary, stated that Pakistan had been on the grey list since 2018.
He said: “It has two concurrent action plans. After a lot of work by Pakistani authorities, they have largely addressed all of the action plan items.”
Kumar maintained that the task force had conducted an onsite visit at the end of August. “The onsite team verified that there is a high level of commitment from the Pakistani leadership, sustainability of reforms and commitment to make improvements in the future,” he said.
“As a result of these action plans, Pakistan has made significant improvements to strengthen the effectiveness of this framework for combating terrorism financing.”
