UK removes Pakistan from its ‘High Risk Third Countries’ list
Foreign minister Bilawal Bhutto-Zardari shared “some good news”, announcing that the United Kingdom (UK) has officially removed Pakistan from its ‘High-Risk Third Countries’ list.
Taking to twitter, Bilawal wrote: “Some good news. The United Kingdom has officially removed Pakistan from its list of ‘High Risk Third Countries’ following our early completion of FATF action plans.”
The amendment removes Pakistan from the list in accordance with the decision taken by the FATF on October 21, 2022,” the official document read.
“The Foreign, Commonwealth and Development Office recognizes the progress Pakistan has made to improve money laundering and terrorist financing controls,” it further added.
Notably, the Financial Action Task Force (FATF) removed Pakistan from the grey list on October 21, 2022.
What is FATF?
The number of members of the Financial Action Task Force is 37, which includes 25 countries including the United States, the United Kingdom, China, Pakistan, India, Turkey, the Gulf Cooperation Council (GCC) and the European Commission.
The major responsibilities of the FATF are to take steps to prevent money laundering and terrorist financing at the global level.