FATF removed Pakistan from its grey list after four years

FATF put Pakistan on its grey list in 2018 for not doing enough on money laundering and terror financing  

The Financial Action Task Force (FATF) has removed Pakistan from its grey list.  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."

Pakistan’s four-year process under different governments to confront terrorism financing had cleared all requirements and conditions except for one related to demonstrating investigations and prosecutions against senior leaders of the UN-designated militant groups, which it finally completed.

Important for Pakistan, which had relentlessly been fighting terrorism on the home ground through military operations, exiting the grey list would send a loud and clear message worldwide that Pakistan had through reforms and put an end to terror financing as well.

                                                                      Insight247.news