Pakistan out of FATF's grey list after 4 years of being on terror funding list

0 0
0 0
Pakistan out of FATF's grey list after 4 years of being on terror funding list
Read Time:2 Minute, 0 Second


The Financial Action Task Force (FATF), the global watchdog on terror financing and money laundering, on Friday, said that Pakistan is “no longer subject to FATF’s increased monitoring process.”

New Delhi,UPDATED: Oct 21, 2022 21:08 IST

The FATF is an inter-governmental body established to combat money laundering, terror financing and other related threats to the integrity of the international financial system. (Photo: Reuters)

By India Today Web Desk: The Financial Action Task Force of FATF, the global watchdog on terror financing and money laundering, on Friday, said that Pakistan is “no longer subject to FATF’s increased monitoring process. The country would continue to work with APG (Asia/Pacific Group on Money Laundering) to further improve its AML/CFT (anti-money laundering & counter-terrorist financing) system.”

The FATF is an inter-governmental body established to combat money laundering, terror financing and other related threats to the integrity of the international financial system.

Pakistan Prime Minister Shehbaz Sharif reacted to Pakistan’s exit from the FATF grey list. He tweeted, “Pakistan exiting the FATF grey list is a vindication of our determined and sustained efforts over the years. I would like to congratulate our civil & military leadership as well as all institutions whose hard work led to today’s success. Aap sab ko bohat bohat Mubarak (Congratulations to you all).”

Pakistan is no longer on the Financial Action Task Force (FATF) grey list. Earlier in the day, speculations were rife that the FATF is likely to free Pakistan from its grey list, enabling the country to try to get foreign funds to overcome its economic situation.

The development comes more than four years after the FATF put Pakistan on grey list for its failure to check the risk of money laundering, leading to corruption and terror financing.

The FATF found Pakistan’s deficiencies in its legal, financial, regulatory, investigation, prosecution, judicial and non-government sectors to fight money laundering and combat terror financing, which are considered serious threats to the global financial system.





Source link

About Post Author

Newslaava

“I am an architect, animator and teacher working in architecture and design at __india__. This site is a great resource for anyone looking to get more updates from their home. Fill your home (heart) with more trending accessories from choosing the best colors for your mind room. NewsSalava.com will rob your heart .... Cool
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Comment

LUKA DEFEATS STEPH AND MAVS EDGE WARRIORS IN THRIFT TEAM USA PLAYERS EMBRACE SAEID EZATOLAHI OF IRAN ON AN EMOTIONAL LEVEL Week 12 Bengals vs. Titans final score predictions Allen Robinson, wide receiver for Rams, foot injury? The Buccaneers offence is not strong, no. But is it sufficient? engaland world cup: An employee of the US Embassy in London was fired