Pakistan has escaped from being placed on the Grey List which includes names of the countries that have failed to combat terror financing and counter money laundering. The state-run Pakistan Television reported that the development came at the conclusion of a key meeting of Financial Action Task Force (FATF), the global watchdog on money laundering and terrorism financing, in Paris.
However, there has been no confirmation from the FATF, an intergovernmental body based in Paris that sets global standards for fighting illicit finance.
Earlier, several media reports suggested that a decision had been made to place Pakistan on the Grey List. The US spearheaded the latest efforts to place Pakistan on the Grey List and was supported by the UK, France and Germany. Pakistan was listed as grey in 2012 but was removed in 2015 after strenuous efforts to address the concerns of the group.
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