High Risk Third Countries: EU Commission removes Pakistan from ‘list’

The European Commission has removed Pakistan from the List of High-Risk Third Countries, which have strategic deficiencies in their Anti Money Laundering/ Countering the Financing of Terrorism (AML/ CFT) regime, according to the Trade Development Authority of Pakistan (TDAP).

The European Commission has removed Pakistan from the List of High-Risk Third Countries having strategic shortcomings in their AML/CFT system, according to the office of the Economic Minister at the Pakistani Embassy in Brussels, Belgium, according to a TDAP official.

UK removes Pakistan from ‘High-Risk Third Countries’ list

According to the official, European legal and commercial actors would no longer conduct enhanced customer due diligence on Pakistani companies and people.

The news is excellent for Pakistani producers to the EU.