Removed from FATF’s gray list, but Pakistan received strict warning

News India Live, Digital Desk: There may be an atmosphere of celebration in Pakistan after coming out of the gray list of the Financial Action Task Force (FATF), but this relief may not last long. FATF has clearly warned Pakistan not to consider this decision as its ‘bulletproof’ victory and to keep an eye on the funding of terrorism.

FATF President, T Raja Kumar has said that Pakistan has taken very good steps and reforms in the last few years to stop terrorism, due to which it has been removed from the grey-list. But this does not mean that now the danger from him has gone away.

‘We have to follow the path of improvement’

Raja Kumar stressed that Pakistan will have to continue on the path of reforms. “I urge Pakistan to continue to work closely with FATF to further strengthen its anti-money laundering and countering the financing of terrorism (AML/CFT) system,” he said.

This simply means that if Pakistan relaxes even a little or is seen returning to its old path in matters related to terror funding, then there will be no delay in putting it in this list again.

What is FATF and why is Pakistan afraid?

FATF is a global organization that keeps an eye on matters like money laundering and terror funding. When a country is grey-listed, its economic credibility around the world weakens. It finds it difficult to get loans from international institutions like IMF, World Bank etc. and foreign investment is also adversely affected.

Pakistan was included in this list in 2018, due to which its economy suffered huge losses. Now after four years of hard work he has been brought out of it. This new warning of FATF is a message to Pakistan that even a single mistake made in future can put it in the same trouble again.