UK officially removes Pakistan from its High-Risk Third Countries list
Pakistan’s robust steps against money laundering and financing terrorism have led to the United Kingdom removing Pakistan from its list of High-Risk Third Countries, according to Foreign Minister Bilawal Bhutto Zardari.
The FM tweeted about the accomplishment and said: “Some wonderful news. Following our prompt completion of FATF action plans, the UK formally removed Pakistan from its list of High-Risk Third Countries.
In addition, he published the official record. On November 14, 2022, His Majesty’s Treasury released a Statutory Instrument that amended the UK’s list of High-Risk Third Countries. According to the FATF’s decision from October 21, 2022, the modification removes Pakistan from the list, according to the statement in the official document.
The Foreign, Commonwealth and Development Office acknowledges Pakistan’s improvements to its anti-money laundering and counter-terror financing measures.
The Financial Action Task Force (FATF), the global organisation that monitors money laundering and the funding of terrorism, previously announced that Pakistan had been taken off the grey list and was no longer subject to its stricter monitoring regime.
UK officially removes Pakistan from its High-Risk Third Countries list
In June 2018, the Paris-based intergovernmental organisation added Pakistan to its list of unreliable jurisdictions due to “deficiencies relating to strategic counter-terrorist financing.”
In his press conference following the FATF plenary, FATF President Raja Kumar noted that Pakistan has been on the grey list since 2018. It has two concurrent action plans, he declared. The Pakistani government has put a lot of effort into addressing all the action plan issues.
