Thursday, June 24, 2021

Global terror funding watchdog FATF retains Pakistan on “enhanced follow-up” list

Asia Pacific Group (APG) of global terror funding watchdog – FATF has retained Pakistan on “enhanced follow-up” list. According to media reports, Islamabad will continue to report back to Asia Pacific Group on Money Laundering on the country’s progress to strengthen its implementation of anti-money laundering and combating financing terror measures.

Pakistan was put on the grey list by the Paris-based Financial Action Task Force (FATF) in June 2018 and the country has been struggling to come out of it. The Asia Pacific Group (APG) is a regional affiliate of the FATF.

The second Follow-Up Report on Mutual Evaluation of Pakistan released by the APG also downgraded the country on one criteria.

Pakistan is now compliant or largely compliant with 31 out of 40 FATF recommendations.

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