Pakistan exits FATF grey list after 4 years, says anti-terror financing watchdog

Global money laundering watchdog Financial Action Task Force (FATF) on Friday removed.

Pakistan from terror financing grey list as it welcomed the country’s “significant progress in improving its AML/CFT regime”.

“Pakistan has strengthened the effectiveness of its AML/CFT (anti-money laundering and counter-terrorist financing) regime and addressed technical deficiencies to meet the commitments of its action plans regarding strategic deficiencies.

That the FATF identified in June 2018 and June 2021, the latter of which was completed in advance of the deadlines, encompassing 34 action items in total.”

“Pakistan is therefore no longer subject to the FATF’s increased monitoring process. Pakistan will continue to work with APG to further improve its AML/CFT system,” the watchdog said in a statement.