UK removes Pakistan from list of ‘high risk’ countries after Islamabad fortifies financial systems

Men ride on a bike with a large flag of Pakistan along a street in Islamabad, Pakistan, on August 14, 2020. (AFP/File)
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Updated 15 November 2022
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UK removes Pakistan from list of ‘high risk’ countries after Islamabad fortifies financial systems

  • Pakistan was added to the list in April 2021 due to unsatisfactory money laundering and terrorist financing protocols
  • The UK removed Pakistan from the list following Islamabad’s early completion of Financial Action Task Force action plans

ISLAMABAD: The United Kingdom on Monday removed Pakistan from its list of “high risk” countries, its foreign office said, after the South Asian country strengthened its anti-money laundering and anti-terrorism financing protocols. 

Pakistan was among 21 countries that were added to the list in April 2021 due to unsatisfactory money laundering and terrorist financing protocols. 

The British government’s list had replicated a list issued by a global dirty-money watchdog, the Financial Action Task Force (FATF), of the countries under “increased monitoring.” Pakistan was placed at number 15 on the UK’s list along with Syria, Uganda, Yemen and Zimbabwe, 

The latest move by the British government comes weeks after the FATF struck Pakistan off its ‘grey list’ following an early completion of its action plans by the South Asian country. 

“His Majesty’s Treasury issued an amendment to the UK’s ‘High Risk Third Countries’ list on 14 November 2022 through a statutory instrument,” the UK’s Foreign, Commonwealth and Development Office (FCDO) said in a letter to the Pakistani high commission. 

“The amendment removes Pakistan from the list in accordance with the decision taken by the Financial Action Task Force (FATF) on 21 October 2022.” 

The FCDO said it recognized the progress Pakistan had made to “improve money laundering and terrorist financing controls.” 

Pakistan’s Foreign Minister Bilawal Bhutto-Zardari called the development a “good news” for his country. 

“The United Kingdom has officially removed Pakistan from its list of ‘High Risk Third Countries’ following our early completion of FATF action plans,” he said on Twitter. 

FATF last month removed Pakistan from its ‘grey list’ after Pakistan successfully implemented 34 action points to counter money laundering and terror financing to get off the list of countries with vulnerable financial systems. 

Pakistan was added to the FATF ‘grey list’ in June 2018. 

Being on the Paris-based watchdog’s ‘grey list’ can scare away investors and creditors, hurting exports, output and consumption. It also can make global banks wary of doing business with a country. 


Pakistani man convicted in US in political assassination plot tied to Iranian paramilitary

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Pakistani man convicted in US in political assassination plot tied to Iranian paramilitary

  • Asif Merchant, 47, worked for Pakistani banks for decades before going into clothing and other businesses
  • He testified he met a Revolutionary Guard operative who gave him countersurveillance training, assignments

NEW YORK: A Pakistani business owner who tried to hire hit men to kill a US politician was convicted Friday in a trial that showcased allegations of Iran-backed plotting on American soil.

As the Iran war unfolded in the Mideast, Asif Merchant acknowledged in a US court that he sought to put an assassination in motion during the 2024 presidential campaign — a plot that was quickly disrupted by American investigators before it had a chance to proceed.

A jury in Brooklyn convicted Merchant on terrorism and murder for hire charges.

The verdict after only a couple hours of deliberations followed a weeklong trial that included remarkable testimony from Merchant himself.

Merchant told the jury he was carrying out instructions from a contact in the Islamic Republic’s powerful paramilitary Revolutionary Guard. According to Merchant, the handler never specified a target but broached names including then-candidate Donald Trump, then-President Joe Biden and Nikki Haley, the former UN ambassador who was also in the race for a time.

The Iranian government has denied trying to kill US officials.

The nascent plot fell apart after Merchant showed an acquaintance what he had in mind by using objects on a napkin to depict a shooting at a rally. He asked the man to help him hire assassins. Instead, he was introduced to undercover FBI agents who were secretly recording him, as had the acquaintance.

Merchant told the supposed hit men he needed services that could include killing “some political person” and paid them $5,000 in cash in a parked car in Manhattan.

“This man landed on American soil hoping to kill President Trump — instead, he was met with the might of American law enforcement,” US Attorney General Pam Bondi said in a statement released after the conviction.

Merchant’s attorney, Avraham Moskowitz, didn’t immediately reply to a message seeking comment.

Merchant, 47, worked for Pakistani banks for decades before going into clothing and other businesses. He has two families, in Pakistan and Iran, and he sometimes visited the US for his garment business.

Merchant testified that he met a Revolutionary Guard intelligence operative about three years ago. The contact gave him countersurveillance training and assignments including the assassination scheme, Merchant said.

He maintained that he had to do his handler’s bidding to protect loved ones in Iran. The defendant said he reluctantly went through the motions but thought he’d be arrested and explain his situation to authorities before anyone was killed.

“I was going along with it,” he said, speaking in Urdu through a court interpreter.

Prosecutors emphasized that Merchant admitted taking steps to enact the plan on behalf of the Revolutionary Guard, which the US considers a foreign terrorist organization, and he didn’t proactively go to authorities.

Instead, he was packing for a flight to Pakistan when he was arrested on July 12, 2024, a day before an unrelated attempt on Trump’s life in Butler, Pennsylvania. Officials said it appeared the Butler gunman acted alone but that they had been tracking a threat on Trump’s life from Iran, a claim that the Islamic Republic called “unsubstantiated and malicious.”

When Merchant subsequently spoke to FBI agents to explore the possibility of a cooperation agreement, he didn’t say he had acted out of fear for his family.

Prosecutors argued that he didn’t back up a defense of acting under duress. Merchant sought to persuade jurors he simply didn’t think the agents would believe him because they seemed to “think that I am some type of super-spy,” which he said he was “absolutely not.”