Pakistan takes steps to avoid terror finance blacklist

ISLAMABAD (AP) — Pakistani officials say the government has approved fresh measures to avoid being blacklisted by an international group that monitors money laundering and terror financing.

Three officials say the measures adopted Tuesday would prevent suspected militants from operating bank accounts and illegally transferring money by air, land and sea. They spoke Wednesday on condition of anonymity because they were not authorized to discuss the decision with reporters.

The Paris-based Financial Action Task Force placed Pakistan on a “grey list” earlier this year but gave it time to take action before a further downgrade. Pakistan fears the listing could deter foreign investors and hinder its access to international markets as it grapples with a fiscal crisis.

Pakistan is set to submit a compliance report to the FATF the first week of January.

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