As Pak exits FATF “Grey List”, India responds

22 October, 2022 | Riya Girdhar

As Pak exits FATF Grey List India responds Top News

Following Pakistan's removal from the global anti-terror finance watchdog FATF's "Grey List" of terrorist nations, India said on Friday that Pakistan had been obliged to take action against terrori...

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  1. India, on the other hand, reminded the international community that it is in their best interests for Pakistan to continue taking genuine action against terrorism and terror financing on its land.
  2. FATF President T Raja Kumar informed reporters today that the decision to remove Pakistan off the Financial Action Task Force’s (FATF) ‘Grey List’ was made at the end of a two-day conference in Paris.
  3. “Pakistan had corrected technical inadequacies in order to achieve the obligations of its action plans addressing strategic weaknesses highlighted by the FATF in June 2018 and June 2021,” Mr Kumar stated.
  4. India responded by stating that it is aware that Pakistan would keep working with the Asia Pacific Group on Money Laundering to enhance its anti-money laundering and counter-terror funding system.
  5. According to a statement by India’s Foreign Ministry spokeswoman Arindam Bagchi, “as a result of FATF inspection, Pakistan has been obliged to take some action against well-known terrorists, including those involved in attacks against the whole foreign community in Mumbai on 26/11.”
  6. According to Mr. Bagchi, it is in everyone’s best interest for Pakistan to continue taking serious, verifiable, irreversible, and sustained action against terrorism and terrorist financing coming from its controlled regions.
  7. The FATF stated in a meeting in June that Pakistan was still on the “Grey List,” but that following a site visit to assess progress, it may be taken off.
  8. Due to “strategic counter-terrorist financing-related inadequacies,” Pakistan was added to the list in 2018. An additional FATF blacklist indicated that the nation in question was “non-cooperative” in the international effort to combat money laundering and the funding of terrorism.
  9. If any country is placed on the FATF’s “blacklist,” lenders including the World Bank, Asian Development Bank, International Monetary Fund, and European Union may downgrade the country.
  10. India, one of the 39 FATF members—along with the UK and the US—claims that Pakistan has been harbouring and supporting terrorists despite the fact that the issue has been brought up on international fora like the UN.