The Ministry of External Affairs (MEA) Spokesperson Arindam Bagchi had responded to Pakistan’s exit from the Financial Action Task Force (FATF) grey list.
MEA official spokesperson said that he was aware of the latest update related to Pakistan in the context of the Financial Action Task Force (FATF) plenary in Paris.
In the official response on Pakistan’s exit from FATF’s grey list, Arindam Bagchi said, “We understand that Pakistan will continue to work with the Asia Pacific Group on Money Laundering (APG) to further improve its Anti Money Laundering (AML) /Counter Terror Financing (CFT) system.”
“As a result of FATF scrutiny, Pakistan has been forced to take some action against well-known terrorists, including those involved in attacks against the entire international community in Mumbai on 26/11,” MEA official spokesperson added.
He further said that “It is in global interest that the world remains clear that Pakistan must continue to take credible, verifiable, irreversible and sustained action against terrorism and terrorist financing emanating from territories under its control.”
The Financial Action Task Force (FATF), a global watchdog on terror financing and money laundering, on Friday announced its decision to free Pakistan from its “grey list”. In a statement, FATF said: “Pakistan is no longer subject to FATF’s increased monitoring process; to 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 global watchdog also said that Pakistan “strengthened effectiveness of its AML/CFT regime and addressed technical deficiencies to meet commitments of its action plans regarding strategic deficiencies that FATF identified”. The decision will enable the country to get foreign funds to overcome its economic situation.
