https://www.rediff.com/news/report/pak- ... 221021.htm
Pak out of FATF grey list after 4 years, big relief to cash-strapped country
Senjo M R, October 21, 2022
After four years, Pakistan has been taken off from the infamous grey list of Financial Action Task Force, the global watchdog on terror financing and money laundering, in the wake of Islamabad's "high level political commitment" in dealing with the menace and carry out reforms in its existing monitoring mechanism.
Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list. Iran and North Korea continue to be in the black list.
In other decisions, Russia was barred from participating in future projects of FATF.
In a statement, the FATF said it welcomes Pakistan's significant progress in improving its anti-money laundering, combating financial terrorism regime.
The decision was taken by the FATF in its plenary held in Paris on October 20-21.
Later at a virtual press conference, FATF president T Raja Kumar, who is from Singapore, said Pakistan has largely addressed all the 34 items given by the FATF.
"The FATF looked into the mechanism put in place by Pakistan to combat financial terrorism and money laundering. The team went down to Pakistan and found the high level political commitment of Pakistan not only act to combat financial terrorism and money laundering but ensuring reforms and strengthen the system," he said.
Kumar said there has been significant progress on the part of Pakistan to combat financial terrorism and money laundering which resulted Pakistan being taken off from the increased monitoring mechanism or the grey list.
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Gautam
Khan runs the show. Pakistan was the flavor of the last month. Burma is the current flavor. India? Well, we have a saying in Bengali, slap the maid-servant to teach the daughter-in-law.