The Financial Action Task Force (FATF) has warned Pakistan that its removal from the grey list in October 2022 does not make it immune to money laundering and terrorist financing. During a press conference in France, FATF President Elisa de Anda Madrazo has emphasised that countries, including Pakistan, must continue implementing measures to prevent and deter crimes.
These comments come amid reports of Jaish-e-Mohammad using digital wallets to fund terror camps, masking financial flows. Ms Madrazo said, any country that exits the grey list is ‘not’ bulletproof for the actions of criminals, either money launderers or terrorists. She added that it is subject to all jurisdictions, including those who have been delisted, to continue their good work to prevent and deter crimes.
Since its removal from the greylist in 2022, Pakistan has been under follow-up to ensure it is implementing anti-terror financing measures. However, since Pakistan is not a member of the FATF, the Asia Pacific Group has been conducting the follow-up.
FATF, the global money laundering and terrorist financing watchdog, concluded its fourth plenary meeting in Paris, France, under the Mexican presidency. The Plenary has removed Burkina Faso, Mozambique, Nigeria, and South Africa from the list of jurisdictions under increased monitoring, following the completion of their Action Plans.
