FATF blacklists Pakistan for its failure to meet global standards

Pakistan has suffered another setback at the international stage today as the Asia-Pacific Group of the Financial Action Task Force (FATF), an international anti-money laundering watchdog, has downgraded it and placed it under the list of blacklisted countries.

The Asia-Pacific Group, one of the nine regional affiliates of FATF, has placed Pakistan in the enhanced expedited follow-up list, also known as the blacklist for its failure to meet its standards.

Pakistan was adjudged as non-complaint in 32 of the 40 compliance parameters.

Pakistan now faces the challenge of avoiding being placed under FATF’s overall black list in October.

It was earlier placed in the ‘grey list’ by FATF.