Asia-Pacific Group ranks Pakistan ‘low’ to complete major FATF recommendations

The Asia-Pacific Group (APG) has rated Pakistan’s level of effectiveness as low on 10 out of 11 international goals on anti-money laundering and combating the financing of terrorism

On Money, APG rated it as ‘low’ despite the fact that Pakistan is currently compliant with 38 out of 40 technical recommendations

According to an update on the ranking of its regional members published by the Financial Action Task Force (FATF) regional branch in Sydney as of September 2, Pakistan only had a “moderate level of performance” on one of 11 outcomes.

By facilitating action against criminals and their assets, Pakistan broadens international collaboration on pertinent information, financial intelligence, and evidence.

A 34-point action plan Pakistan agreed to with FATF at the highest level in June 2018 was the subject of an on-site visit by a 15-member joint FATF and APG delegation from August 29 to September 2.

This, however, has no direct bearing on Pakistan’s anticipated removal from the FATF’s grey list during its plenary meeting in Paris from October 18 to 22.

As of last month, Pakistan has been deemed to be compliant with 38 of the FATF’s 40 technical recommendations for combatting money laundering and terrorism financing.

This indicates that Pakistan has made significant progress toward meeting the technical requirements of the FATF in order to be removed from the grey list.