By removing Pakistan from its list of “high-risk third nations” through a legislative document, the UK implicitly acknowledges Pakistan’s efforts to be taken off the FATF’s “grey list.”
This development was noted by a statement from the Foreign, Commonwealth, and Development Office on Monday, which stated that the UK acknowledges Pakistan’s efforts to strengthen limits on money laundering and terrorism financing.
On Twitter, foreign minister Bilawal Bhutto-Zardari greeted the event as “good news.”
Some good news. The United Kingdom has officially removed Pakistan from its list of ‘High Risk Third Countries’ following our early completion of FATF action plans. 🇵🇰 🤝 🇬🇧 pic.twitter.com/clcGHy5771
— BilawalBhuttoZardari (@BBhuttoZardari) November 14, 2022
The list covers nations that the UK believes pose threats due to inadequate controls on money laundering and financing of terrorism.
Pakistan was listed with war-torn nations like Syria and Yemen, as well as African republics like Uganda and Zimbabwe, and was ranked 15th on the list, which was the same as the FATF list.
Pakistan was added to the list by the UK government due to a lack of financial oversight and tax controls.
Notably, Pakistan was recently taken off the FATF’s “grey list” in October.
Since the government achieved all 34 goals of the action plan, Pakistan’s name has been taken off the “grey list,” according to President Raja Kumar of the organization that monitors the financing of terrorism.
To read our blog on “Pakistan has been removed from FATF ‘grey list’, click here.
