In another setback for Pakistan, the United Kingdom has put this terror Islamic sponsoring nation in its list of “21 undesirable high-risk countries” over money laundering and terror financing charges
According to the UK government, the nations listed in this category pose a security threat due to weak tax controls and lack of check and balance on terrorism financing and money laundering.
UK has added Pakistan to the list of undesirable 21 high-risk countries with unsatisfactory money laundering & terrorist financing controls. This list released by the UK govt, replicates the list of countries named by the FATF as high-risk or under increased monitoring. pic.twitter.com/ExbBnQVFSz
— VOA DEEWA (@voadeewa) April 12, 2021
The list came into effect on March 26 2021, under the ‘Amendment of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017’.
Pakistan government has condemned this listing and the Foreign Office spokesperson Zahid Hafeez Chaudhri said, “this is not based on facts and is politically motivated and this move could impact Pakistan’s chances of getting off the FATF’s grey list,”.
Pakistan has been on the financial watchdog The Financial Action Task Force( FATF) grey list since June 2018.