The Financial Action Task Force (FATF) has started the process of removing Pakistan soon out of FATF the grey list. After four years of monitoring, the Financial Action Task Force (FATF) has expressed satisfaction with Pakistan’s performance.
“Pakistan has substantially completed its two action plans, covering 34 items, and warrants an on-site visit to verify that the implementation of Pakistan’s AML/CFT reforms has begun and is being sustained,” said a statement by FATF.
Pakistan, will be removed from the grey list after the FATF delegation visits Pakistan on the ground.
The discovery was described as a “wonderful achievement” by Director-General Inter Services Public Relations (DG ISPR) in a tweet.
Completion of FATF AML /CFT action plans by Pak is a great achievement. A monumental effort paving way 4 whitelisting. “Core cell @ GHQ which steered the national effort & civil – military team which synergised implementation of action plan made it possible, making Pak proud”COAS— DG ISPR (@OfficialDGISPR) June 17, 2022
Minister of State for Foreign Affairs Hina Rabbani Khar spoke at a press conference on Saturday. She talked about Financial Action Task Force’s announcement (FATF).
“The FATF members applauded and commended Pakistan’s positive and rapid progress,” she said. “All action plan items have been checked off, and the majority of them have been addressed; nothing is outstanding.”
Talking about the requirement of on-site visit Khar said,“When you authorise a country’s removal from the grey list, the first step is to authorise an on-site technical evaluation, which has been done in this plenary.”
“Never again will we want to be part of any list that will require us to divert our attention from our national requirements to [international] reporting requirements. We never want to slip into this again. This is the biggest lesson,” she said while talking about lessons Pakistan had learned during meetings with FATF.