Pakistan has a checkered past when it comes to money laundering and terrorist financing. It has misled the international community on several occasions. It has failed to take corrective institutional actions which would suppress both terror financing and money laundering.
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Pakistan’s inadequate actions against domestic terror financing led the Financial Action Task Force (FATF) to place the country on its “grey list” three times between the years 2008 and 2022: from Feb. 2008 to June 2010, then from Feb. 2012 to Feb. 2015, and finally from June 2018 to Oct. 2022.
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In 2018, the Asia-Pacific Group (APG), a FATF-associated body, conducted an onsite mutual evaluation visit from Oct. 8 to 19. The subsequent 2019 Mutual Evaluation Report identified significant deficiencies in Pakistan’s anti-money
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