Iran Press/Asia: Since June 2018, Pakistan has been on the FATF's grey list for “shortcomings in its counter-terrorist funding and anti-money laundering regimes”.
“Pakistan has strengthened the effectiveness of its AML/CFT (anti-money laundering and counter-terrorist financing) 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,” the watchdog said in a statement.
The global watchdog on terror financing and money laundering also said that Pakistan will now be part of its “white list.
“Pakistan can now more effectively tackle money laundering and terrorist financing”, said FATF chief Raja Kumar of Singapore after an on-site visit by a FATF team to monitor the situation.
Besides Pakistan, Nicaragua, Tanzania, Congo, and Mozambique were also added to the “white list”.
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