One step closer to being removed from the FATF's grey list
Key Takeaways:
- After a worldwide monitor advised that an on-site visit could lead to its removal from a filthy money "grey list," the country is "one step away" from being removed.
- An on-site examination is required, according to the FATF, to confirm that reforms have begun and are being maintained, as well as that the necessary political commitment is still in place.
According to Pakistan's state minister for foreign affairs, the country is "one step away" from being removed from a dirty money "grey list" after a global monitor suggested an on-site visit might lead to its removal.
Pakistan was remained on the list by the Financial Action Task Force (FATF) on Friday, although a visit to evaluate progress on combatting terrorism financing and money laundering might lead to its removal from the list of nations under greater scrutiny.
The financial crime watchdog, which the Group of Seven industrial powers established to defend the global financial system, said Islamabad had fulfilled most of its two action plans, which covered 34 issues, as it sought to remove itself from the list which it has been on since 2018.
"God willing, Pakistan is one step away from being removed from the grey list," the minister, Hina Rabbani Khar, remarked.
According to the FATF, an on-site inspection is required to ensure that reforms have begun and are being maintained and that the essential political commitment is still in place.
According to Khar, Islamabad will prepare for the on-site visit before the FATF's next plenary in October.
In a militant attack in Balochistan, four workers were slain.
Officials in Pakistan's Balochistan province reported on Saturday that unidentified militants assaulted a labor camp and began indiscriminate fire on them, killing at least four workers and injuring an equal number.
The attack took place late Friday in Harnai's Chaper left sector.