Pakistan exits FATF gray list after 4 years, says terrorist-financer | World news

The International Money Laundering Task Force (FATF) on Friday removed Pakistan from its money laundering list as it welcomed “significant progress in improving the AML/CFT regime” of the country.

“Pakistan has strengthened its AML/CFT (money laundering and terrorist financing) and addressed technical weaknesses to meet the commitments of its action plans regarding regulatory weaknesses identified by the FATF in June 2018 and June 2021, the latter of which ended in advance of the deadlines, with a total of 34 acts. ”

“Pakistan is therefore not subject to the FATF’s increased monitoring process. Pakistan will continue to work with the APG to further improve its AML/CFT program,” the watchdog said in a statement.