Pakistan placed on FATF grey list
ISLAMABAD: The Financial Action Task Force (FATF) placed Pakistan on its grey list after a meeting in Paris.
Pakistan remained on the FATF grey list between 2012 and 2015. The anti-terror financing body decided to place Pakistan on the list once again despite diplomatic efforts.
Interim Finance Minister Shamshad Akhter went to Paris to present Pakistan’s case before the FATF during a meeting on Monday. He apprised the body of measures that Pakistan took to stop money laundering and terror financing. FATF said, however, that the measures were not enough.
The finance ministry has yet to officially verify Pakistan’s placement on the grey list. Officials said that we must wait for FATF’s official announcement.
In February, FATF decided to place Pakistan on its grey list in June this year. APP/AFP