Pakistan is out of FATF grey list
Country will continue to work on money laundering and further improve the system
Paris-based global money laundering and terrorism financing watchdog, Financial Action Task Force (FATF), has removed Pakistan from a list of countries that were under ‘increased monitoring’, the organisation said on Friday.
Pakistan is “no longer subject to FATF’s increased monitoring process; to continue to work with APG (Asia/Pacific Group on Money Laundering) to further improve its AML/CFT (anti-money laundering & counter-terrorist financing) system,” said FATF in a tweet shared by ANI.
The country had been on the grey list since 2018. The global watchdog welcomed Paksitan’s significant progress in improving its AML/CFT regime.
Pakistan strengthened effectiveness of its AML/CFT regime and addressed technical deficiencies to meet commitments of its action plans regarding strategic deficiencies that FATF identified.