March 14, 2025 05:22 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
In a setback for Donald Trump, US judge orders federal agencies to rehire fired workers: Report | 'We will thwart conspiracies hatched by Centre': Revanth Reddy on delimitation exercise | Chennai doctor, his wife along with two sons die by suicide due to huge debt: Cops | Amid language debate, Tamil Nadu drops rupee symbol in state budget | Scientist killed in assault by neighbour over parking argument in Mohali | British woman tourist raped in Delhi hotel by man she befriended on social media | Gold smuggling case: Court restrains media from publishing, telecasting defamatory statements against Ranya Rao | Trump warns Putin of 'devastating' financial impacts if Russia blocks Ukraine ceasefire | 'People are going to Russia right now as we speak: Donald Trump on Ukraine war ceasefire talks | Pakistani army claims to have freed all hostages in passenger train siege; 28 personnel killed
Pakistan-FATF-India
UNI

Pakistan must continue to take credible, verifiable, irreversible and sustained action against terrorism: India on FATF grey list removal issue

| @indiablooms | Oct 22, 2022, at 02:53 pm

New Delhi: India reacted to Pakistan's removal from the Financial Action Task Force (FATF) grey list and said the world should remain clear that the South Asian nation must continue to take 'credible, verifiable, irreversible and sustained' action against terrorism and terrorist financing emanating from territories under its control.

"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," Ministry of External Affairs Spokesperson Arindam Bagchi said in a statement.

"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," he said.

Pakistan has made its way out of the FATF grey list, four years after the global watchdog on terror financing and money laundering put the country under the organisation's close scrutiny for involvement in terror funding.

The Financial Action Task Force or FATF said on Friday that Pakistan is "no longer subject to FATF's increased monitoring process. The country would continue to work with APG (Asia/Pacific Group on Money Laundering) to further improve its AML/CFT (anti-money laundering & counter-terrorist financing) system."

Pakistan removed from anti-terror watchdog FATF's grey list after 4 yrs

The FATF is an inter-governmental body set up to combat money laundering, terror financing and other related threats to the integrity of the international financial system.

While being on FATF's grey list, Pakistan found it difficult to get aid from International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB), and the European Union, multiplying its inflation and infrastructure-related problems.

Nicaragua has also been removed from the grey list, while Myanmar has been put on the more severe, black list.

Russia, which continues its war with Ukraine, has been sidelined.

The decision to strike Pakistan off of the list was made during the FATF's meeting in Paris.

The watchdog had set a 34-point action plan for Pakistan, 27 pertaining to terror financing, and seven to money laundering.

In June, the FATF said in a statement at its plenary: "Pakistan has substantially completed its two action plans", signalling that there was a probability of the country's exit from its grey list. An on-site verification was pending at that time.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.