Pakistan lacking ‘effectiveness’ on four FATF-linked goals

The Asia-Pacific Group (APG) on Money Laundering 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 terror (AML/CFT), even though the country is now compliant on 38 out of 40 technical recommendations. The Sydney-based regional affiliate of the Financial Action Task Force (FATF) released an update, as of Sept 2, on the rating of its regional members suggesting that Pakistan had a ‘moderate level of effectiveness’ on only one out of 11 outcomes. Under this ‘immediate outcome’, Pakistan extends international cooperation on appropriate information, financial intelligence, and evidence, and facilitates action against criminals and their assets. A 15-member joint delegation of FATF and APG paid an onsite visit to Pakistan from Aug 29 to Sept 2 to verify the country’s compliance with a 34-point action plan committed with FATF at the highest level in June 2018.