The Financial Action Task Force (FATF) has warned Pakistan that its 2022 greylist exit doesn’t make it immune to terror financing, urging continued vigilance as reports surface of digital funding networks.
The Financial Action Task Force (FATF), a global terror funding watchdog, has cautioned Pakistan that its removal from the grey list in October 2022 does not grant immunity from global scrutiny on terror financing and money laundering.
Speaking at a press conference in France after the FATF’s plenary session, President Elisa de Anda Madrazo said countries like Pakistan must remain vigilant and committed to combating illicit financial activity even after being delisted.
“Any country that has been on the grey list is not bulletproof against the actions of criminals — be they money launderers or terrorists. We invite all jurisdictions, including those that have been delisted, to continue their good work to prevent and deter such crimes,” Madrazo said.
‘STAY THE COURSE’ AFTER GREYLIST EXIT
Madrazo’s remarks were seen as a pointed reminder to Islamabad, which was removed from the FATF’s increased monitoring list after four years of compliance reviews. Pakistan is currently under follow-up evaluation by the Asia Pacific Group (APG) to ensure it continues enforcing anti-terror financing standards.
“Delisting is not the end of the process. We expect countries to strengthen their systems and close the loopholes that criminals exploit,” Madrazo added.
Her comments came amid reports that Pakistan-based terror groups such as Jaish-e-Mohammad (JeM) are using digital wallets and masked financial flows to fund training camps, an emerging risk flagged in the FATF’s recent “Comprehensive Update on Terrorist Financing Risks” report.
PAK A ‘HIGH-RISK’ TERROR SOURCE: INDIA
India’s National Risk Assessment 2022 has identified Pakistan as a high-risk source of terror financing, particularly through entities linked to the state-run National Development Complex (NDC). The FATF report, which included India’s inputs, underscored ongoing regional threats from state-sponsored terrorism and proliferation financing.
“The FATF remains committed to strengthening global standards and ensuring implementation through assessments and monitoring. Our aim is simple — to deprive terrorists and criminals of the funds they rely on,” Madrazo said.
