FATF formally removes Pakistan from its grey list
22nd Oct 2022
The Financial Action Task Force has announced to formally remove Pakistan from its grey list.
This was announced by FATF President T Raja Kumar in Paris on Friday.
He said Pakistan had been on the grey list since 2018 and after a lot of work by the Pakistani authorities, they completed a combined 34 action items to address deficiencies in the anti-money laundering and counterterrorism financing systems.
Raja Kumar said FATF welcomes this significant progress as a result Pakistan can now more effectively tackle anti-money laundering and terror financing.
He said a FATF team has verified that the reforms are in place and that there is a high level of commitment and capacity to sustain those reforms. He said these reforms are good for the stability of the country and the region.
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