Pak could be blacklisted by FATF due to ‘lobbying by India’, says Qureshi


Pakistan could be blacklisted by the Financial Action Task Force (FATF) due to “lobbying by India”, Foreign Minister Shah Mahmood Qureshi said as he estimated that the country could suffer USD 10 billion loss annually if it remains in the watchdog’s grey list.

In June last year, the Paris-based FATF had placed Pakistan on the ‘grey list’ of countries whose domestic laws are considered weak to tackle the challenges of money laundering and terrorism financing.

The FATF is working to curb terrorism financing and money laundering and has asked Pakistan to reassess the operation of banned terrorist outfits in the country. Read More

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