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Pakistan Establishes Anti-Money Laundering, Terror Financing Cell To Exit FATF Greylist
06 Jul 2021

Pakistan’s anti-corruption watchdog has established an anti-money laundering and terror financing cell to check financial crimes and illegal transfer of resources as the country struggled to exit from the FATF’s grey list.
The Paris-based Financial Action Task Force (FATF) placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019 but the deadline was extended later on due to the COVID-19 pandemic.

The National Accountability Bureau (NAB) took action as the country struggled to get out of the grey list of the Financial Action Task Force (FATF), the Dawn newspaper reported on Monday.

The move comes after the FATF retained Pakistan on its ”grey list” last month for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of UN-designated terror groups, including Hafiz Saeed and Masood Azhar.

The global body against money laundering and terror financing also asked Pakistan to work to address its strategically important deficiencies.

Read more at NDTV

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