Officially Acknowledged Pakistan’s Progress
Through a legislative instrument, the UK has officially acknowledged Pakistan’s progress toward being taken off the FATF‘s “grey list” by removing it off its list of “high-risk third nations.”
This development was noted by a statement from the Foreign, Commonwealth and Development Office on Monday, which stated that the UK acknowledges Pakistan’s efforts to strengthen limits on money laundering and terrorism financing.
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Foreign Minister Lauds
On Twitter, the foreign minister Bilawal Bhutto-Zardari greeted the event as “excellent news.”
The list covers nations that the UK believes pose threats due to inadequate controls on money laundering and financing of terrorism.