News: Asia-Pacific Group (APG) on Money Laundering has retained Pakistan on its ‘Enhanced Follow-Up’ list.This was the first Follow-Up Report on Mutual Evaluation of Pakistan released by the Asia-Pacific Group (APG). Facts: What is Mutual Evaluation Report: It is a peer-review system to determine whether countries meet the compliance standards for money laundering and terror… Continue reading FATF’s Asia Pacific Group keeps Pakistan in the enhanced follow up list
Tag: Asia Pacific group
Terror funding watchdog FATF Asia-Pacific Group ‘blacklists’ Pakistan
Asia Pacific group(APG) has placed Pakistan on its Blacklist for its failure in meeting the required global standards and combating terrorism and money laundering. Pakistan was non-compliant in 32 of the 40 Compliance Parameters on Money Laundering & Terror Financing and was low in 10 of the 11 Effectiveness Parameters. In June 2018,Financial Action Task… Continue reading Terror funding watchdog FATF Asia-Pacific Group ‘blacklists’ Pakistan
Pakistan faces FATF blacklist
The Asia Pacific Group(APG) has conveyed to Pakistan that its action plans on terrorist groups were inadequate after it was grey-listed by the Financial Action Task Force(FATF) for terror financing. APG has said that Pakistan has time until September,2019 to either comply with the demands made by FATF members or it could be blacklisted.The blacklisting… Continue reading Pakistan faces FATF blacklist
Pakistan needs aggressive diplomacy to exit FATF grey list: official
Financial Action Task Force (FATF) has said that Pakistan needs to launch a diplomatic effort to secure enough support to come out of the greylist or to prevent itself from falling into the blacklist. This statement came after a 10-member Pakistani delegation attended a meeting of the Asia-Pacific Group (APG) where it defended Pakistan’s efforts… Continue reading Pakistan needs aggressive diplomacy to exit FATF grey list: official
After FATF,Asia-Pacific group may also grey-list Pakistan
Pakistan is facing the risk of being greylisted by the Asia Pacific Group (APG).Pakistan has a high non-compliant rate of nearly 70% on 40 recommendations against money laundering and terrorist financing. Earlier,Financial Action Task Force (FATF) had decided to keep Pakistan on its grey list.It means downgrading of the country by institutions like IMF,World Bank,ADB,EU… Continue reading After FATF,Asia-Pacific group may also grey-list Pakistan
