On October 21, 2022, President of the FATF Raja Kumar announced Pakistan’s removal from the financial watchdog’s “Increased Monitoring List” (IML) also known as the grey list during a press conference.[1] Pakistan was one of the two countries that were removed from the FATF’s IML (along with Nicaragua) while 23 other countries still remain in the list, including Jordan, Turkiye and the United Arab Emirates (UAE).
Pakistan’s recent exit from the FATF IML comes after 4 years when the country was placed in the grey list on June 28, 2018 for failing to effectively act against terror financing on its soil.[2]
Pakistan first came on the FATF’s radar after activities of the proscribed Tehrik-i-Taliban Pakistan (TTP) surged following the outfit’s formation in December of 2007. There was a substantial increase in terrorist activities in the country after that.[3] Soon after, Pakistan was placed under the grey list on February 28, 2008.
