Pakistan Removed from FATF's Grey List, India Responds

NEW DELHI: Pakistan was put into the Financial Action Task Force's (FATF) Grey List on charges of being a country which sponsors terrorism. It was recently removed from this list after four years.

In response to Pakistan's removal from the grey list after four years on the list of countries sponsoring terrorism, India's Ministry of External Affairs Spokesperson Arindam Bagchi made a statement. The MEA official stated that he was aware of the most recent developments concerning Pakistan in relation to the Financial Action Task Force (FATF) plenary in Paris.

"We understand that Pakistan will continue to engage with the Asia Pacific Group on Money Laundering (APG) to further enhance its Anti Money Laundering (AML) / Counter Terror Financing (CFT) system," said Arindam Bagchi.

He also mentioned that "due to FATF inspection, Pakistan has been forced to take some action against well-known terrorists, including those involved in attacks against the entire foreign community in Mumbai on 26/11."

Arindam Bagchi continued, "for the world to continue to understand that Pakistan must keep taking consistent, serious, verifiable action against terrorism and terrorist financing emanating from territory under its control."

India has always maintained its stand against terrorism and associated problems in the international arena. It has also spoken many times regarding the state-sponsored cross-border terrorism by Pakistan in several areas of the border.

The Financial Action Task Force is a global organisation that monitors money laundering, sponsoring of terrorism and other associated risks to the integrity of the global financial system. Pakistan was placed on the FATF's Grey List for failing to control the risk of money laundering, which can result in corruption and the financing of terrorism.

In the meeting held in the capital of France, the agency mentioned that Pakistan is "no longer under the stricter surveillance regime of the FATF. The nation will keep cooperating with the Asia/Pacific Group on Money Laundering to advance its AML/CFT (anti-money laundering & counter-terrorist financing) system."

"Overall, Pakistan has made good progress in addressing the technical compliance deficiencies identified in its MER (mutual evaluation report)," mentioned a statement from the organisation.

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