Whitelisted — what next?

Pakistan is now formally off the dirty list of the global money laundering and terror financing watchdog, the Financial Action Task Force (FATF). It was grey listed in June 2018 due to strategic deficiencies in its anti-money laundering and combating financing terror (AML/CFT) regime. In June 2018, Pakistan made a high-level political commitment to work with the Paris-based FATF and its Sydney-based regional affiliate Asia Pacific Group (APG) on Money Laundering to strengthen its AML/CFT regime and to address its strategic counter-terrorism financing-related deficiencies by implementing a 27-point action plan to accomplish these objectives. Another 7-point agenda was added to the action plan in June 2021. “Pakistan worked through two concurrent action plans and completed 34 action points to remove strategic deficiencies in anti-money laundering and combating financing terror (AML/CFT) regime. After a lot of work by Pakistani authorities, they have largely addressed all of the action plan items. Pakistan is therefore no longer subject to the FATF’s increased monitoring process (grey list)”, announced FATF President T. Raja Kumar on the conclusion of FATF plenary in Paris.