Pakistan is out of FATF’s grey list

NationalPakistan is out of FATF's grey list

ISLAMABAD, Pakistan: Pakistan has been removed from the grey list of the Financial Action Task Force (FATF), a global money laundering and terrorism financing watchdog.

Pakistan had been put on the FATF’s grey list in June 2018 for its failure to check the risk of money laundering, leading to corruption and terror financing.

The FATF President Raja Kumar officially announced on Friday in his presser that Pakistan has been taken off the grey list of the FATF.

In a statement, the FATF said: “The FATF welcomes Pakistan’s significant progress in improving its AML/CFT (Anti-Money Laundering and Combating the Financing of Terror) regime. Pakistan has strengthened the effectiveness of its AML/CFT 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.”.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

Sayyad Mubashar Tauqir Shah posted as Additional Secretary at Ministry of Information & Broadcasting

0
ISLAMABAD, Pakistan: Sayyad Mubashar Tauqir Shah, a BS-21 Officer of Information Group, has been posted as the Additional Secretary at the Ministry of Information...

Imran Khan and illegal Afghans residing in Pakistan

0
Islamabad, Pakistan: On Thursday night, former Chairman PTI Imran Khan took to his social media account to tweet and oppose the Pakistan government's decision...

Pakistan’s foreign reserves fall by $286 million

0
Total reserves: $12.1 billion, down by $286 million SBP reserves: $7.0 billion, down $237 million Commercial Banks reserves: $5.1 billion, down by $49...
Mango Brand

Mango Brand Collection, Location, Contact Info and More

0
Mango has made a name for itself in the competitive world of fashion, where styles are boundless and trends change constantly. Mango one of...

AUD to INR: Australian Dollar to Indian Rupee Today – 8 December 2023

0
The Australian Dollar (AUD) was trading at 55.16 as per the Indian Rupee (INR) on Friday.Currently, Indians are now the second-largest migrant group in...
Advertisement