Canada Global (Web News) The United Kingdom formally removed Pakistan from its list of “High Risk Third Countries” on Monday in acknowledgment of Pakistan’s successful countermeasures against money laundering and financing for terrorism.
On his Twitter account, Foreign Minister Bilawal Bhutto Zardari shared a letter from the Foreign, Commonwealth and Development Office along with the “excellent news.”
“some positive news Due to our swift completion of FATF action plans, the United Kingdom has formally delisted Pakistan from its list of “High Risk Third Countries.” “tweets from Bilawal
On November 14, 2022, His Majesty’s Treasury released a Statutory Instrument that amended the UK’s list of High-Risk Third Countries.
According to the FATF’s decision from October 21, 2022, the modification removes Pakistan from the list, according to the statement in the official document.
The Foreign, Commonwealth and Development Office acknowledged Pakistan’s improvements to its anti-money laundering and counter-terror financing measures.
The UK government put Pakistan to its list of the 21 high-risk nations in April 2021 because of its lax restrictions on money laundering and terrorism financing.
This list of 21 nations, which was made public by the UK government, was a replication of the list of nations that the FATF had identified as high-risk or requiring closer monitoring.
Pakistan was ranked 15th on the list, with war-torn nations like Zimbabwe, Uganda, Yemen, and Syria.
The UK government claims that these countries are a concern because of lax tax enforcement and a lack of safeguards against the financing of terrorism and money laundering.