PARIS, 25 October (H.S.): The Financial Action Task Force (FATF), the global watchdog for money laundering and terrorist financing, issued a stern warning to Pakistan on Friday, emphasizing that its removal from the ‘greylist’ in 2022 does not grant it immunity from ongoing scrutiny.

Speaking at a press conference following the FATF’s fourth plenary meeting in Paris, President Elisa de Anda Madrazo cautioned that all jurisdictions, including those delisted, must maintain robust measures against financial crimes.

Any country that is on the grey list but also exists on the grey list is not bulletproof for actions of criminals, either money launderers or terrorists, Madrazo stated. We do invite all jurisdictions, including those who have been delisted, to continue their good work to prevent and deter crimes.

Pakistan was taken off the FATF’s increased monitoring list, or ‘greylist’, in October 2022, but remains under follow-up evaluation by the Asia Pacific Group (APG).

Madrazo’s comments serve as a pointed reminder amid recent reports that Pakistan-based terror outfits like Jaish-e-Mohammad (JeM) are exploiting digital wallets to obscure funding for their operations.

The FATF president’s warning aligns with concerns raised by India, which identified Pakistan as a high-risk source for terror financing in its 2022 National Risk Assessment. A recent FATF report, with contributions from India, also highlighted proliferation financing risks associated with Pakistan’s state-owned National Development Complex.

During the plenary, the FATF also announced that it has removed Burkina Faso, Mozambique, Nigeria, and South Africa from the list of jurisdictions under increased monitoring after they successfully completed their respective action plans.

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Hindusthan Samachar / Jun Sarkar