Pakistan to remain on FATF grey list

The Financial Action Task Force (FATF) has remain put Pakistan on the ‘Grey List’ due to failed to take appropriate action against UN-designated terrorists such as 26/11 accused Hafiz Saeed and JeM chief Masood Azhar.

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Although the global anti-money laundering and terror financing body has acknowledged some progress made by Pakistan.

Early this year, Islamabad-based think tank Tabadlab revealed that Pakistan sustained a total of $38 billion in economic losses due to FATF’ decision to thrice place the country on its grey list since 2008.

The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society.