After a huge uproar on Pakistan’s exit from the grey list of the Financial Action Task Force (FATF), S Verma, Secretary, MEA pointed out that ‘if a country is off the grey list, doesn’t mean it’s not under scrutiny anymore.’ “FATF process has certain continuity. Once you’re off the grey list, doesn’t mean you’re not under scrutiny. I’m sure the international community and other counter-terrorism platforms will scrutinise countries. We’ve maintained our vigil and we’ll continue in future,” Verma said.
Earlier this month, Pakistan was taken off the grey list of FATF, the global watchdog on terror financing and money laundering, four years after the country was put in the infamous categorisation. The decision was taken by the FATF in its plenary held in Paris on October 20-21.
Pakistan Prime Minister Shehbaz Sharif hailed the decision and 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 :)”
FATF statement on Pakistan’s exit from grey list
The FATF said in a statement that it welcomes Pakistan’s significant progress in improving its anti-money laundering, and combating financial terrorism (AML/CFT) 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,” the statement read.
