Pakistan Likely To Exit FATF Grey List After 4 Yrs
Islamabad: Four Years after it was placed on the grey list of the Financial Action Task Force (FATF) for the financing of terrorism and money laundering, Pakistan is finally set to see its name off the list after it was found to be compliant in the action plan set out by the global financial watchdog.
“At its June 2022 Plenary, the FATF made the initial determination that Pakistan has substantially completed its two action plans, covering 34 items, and warrants an on-site visit to verify the implementation of Pakistan’s AML/CFT reforms have begun”, said FATF in an official statement.
Meanwhile, Joe Biden called Pakistan a dangerous nation, saying that it “maybe one of the most dangerous nations in the world: Pakistan. Nuclear weapons with any cohesion”.
The decision to strike the South Asian nation from the list is likely to be taken when the financial crime watchdog meets in Paris from October 18 to 21. The global financial watchdog had set out an action plan of 34 points for Pakistan, of which 27-point action plan was related to terror financing and 7-point action plan was related with money laundering.