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Tuesday, September 27, 2022
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FO terms FATF team’s Pakistan visit ‘smooth, successful’

Says report of onsite visit to be discussed with FATF’s International Cooperation Review Group

Pakistan on Wednesday said that a recent visit of the Financial Action Task Force (FATF) team was smooth and successful as their focus was to validate the country’s on-ground commitment and sustainability of reforms.

In a statement issued on Wednesday, Foreign Office Spokesman Asim Iftikhar Ahmad said a FATF technical team recently visited Pakistan and held detailed discussions with relevant agencies and from their perspective, it was a smooth and successful visit.

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“The focus of the visit was to validate on ground Pakistan’s high-level commitment and sustainability of reforms in our AML/CFT regime,” he said adding that the meetings with the FATF team were held in a constructive and positive atmosphere.

The spokesman shared that the report of the FATF onsite team will be discussed in FATF’s ICRG (International Cooperation Review Group) and plenary meetings, scheduled to be held in the third week of October in Paris. “Pakistan is looking forward to a logical conclusion to the ongoing evaluation process,” he added.

The foreign office said that as regards the status of Pakistan’s progress, FATF’s latest evaluation of Pakistan supersedes its findings in previous years.

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“As a result of Pakistan’s strenuous and consistent efforts over the last four years, Pakistan has not only achieved a high degree of technical compliance with FATF standards it has also ensured a high level of effectiveness through the implementation of two comprehensive FATF Action Plans, and it is committed to continuing its efforts in this regard.”

Concerning technical compliance with FATF standards, the Foreign Office said that Pakistan has now been rated as compliant or largely compliant in 38 out of 40 FATF recommendations, which places us among the top compliant countries in the world.

The spokesperson said that the completion of both action plans by Pakistan in June 2022 is, in fact, an acknowledgement by the task force of attaining a high level of effectiveness on FATF standards.



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