Haiti and South Sudan were also placed on a “grey list” of countries under increased monitoring to counter money laundering and terrorist financing, while Ghana was removed from the list.
Global money laundering watchdog Financial Action Task Force says Islamabad has made "significant progress" but there remained "serious deficiencies" in mechanisms to end money laundering and terrorism financing.
The European Union has proposed a bill to blacklist the kingdom for a lack of effective regulations to battle money laundering and the financing of terrorism.
The move comes amid heightened international pressure on Saudi Arabia after the murder of Saudi journalist Jamal Khashoggi in the kingdom's Istanbul consulate on October 2.
Turkey launches an investigation into the transfer of about $419 million to over 28,000 overseas bank accounts.
The Commonwealth Bank of Australia admitted that it was late in reporting more than 53,500 suspicious transactions exceeding $7,655 (AU$10,000) between 2012 and 2015.
US State Department official fails to confirm that the Financial Action Task Force has deferred action for three months, pointing out that the global watchdog’s deliberations are confidential until made public.
The US push to put a motion to place Pakistan on a global terrorist-financing watchlist comes at a time when Washington itself is accused by NATO ally Turkey of supporting, arming and financing a terror organisation on Syria's northern border.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2022 TRT World.