New Delhi: The global watchdog FATF has removed Pakistan from the “Grey List” for controlling terrorist funding and money laundering. A statement has been issued from India regarding this. India has said that it will be in the global interest to be clear to the world that Pakistan continues its action to stop terrorism and terror funding.
Because of FATF, Pakistan was forced to take action against some notorious terrorists. It also includes terrorists of the 26/11 Mumbai attack. India understands that Pakistan will work with the APG against money laundering and terror financing. Significantly, in a statement issued by the FATF, Pakistan’s significant progress has been welcomed in combating money laundering, and financial terrorism. It said, “Pakistan has strengthened efforts against money laundering, it is fighting terrorism financing, technical loopholes have been removed.”
Pakistan has overcome technical shortcomings – FATF
The FATF in its plenary meeting held in Paris on 20-21 October decided to remove Pakistan from the gray list. The global task force said, “Pakistan has made its mechanisms to combat money laundering and terror funding more effective and has addressed technical gaps to meet the commitments of its Action Plans on Strategic Deficiencies.” FATF did it in June 2018 and June 2021.
The monitoring body said this thing
It has fulfilled the relevant commitments ahead of the stipulated time frame, which included a total of 34 action points. Pakistan will continue to work with APG to further improve its mechanisms to combat money laundering and terror funding.
What is Greylisting
FATF has placed a country under increased monitoring to check its progress on measures against money laundering and terrorism financing.
The “grey list” is also known as the “increased monitoring list”.
Countries in Grey List:
As of March 2022, there are 23 countries on the FATF’s increased monitoring list — officially referred to as “jurisdictions with strategic deficiencies” — that include Pakistan, Syria, Turkey, Myanmar, Philippines, South Sudan, Uganda, and Yemen.
