Pakistan’s FATF Panel Ranking Improves

Web Desk — According to the latest report by the Asia Pacific Group (APG) on Money Laundering and terror financing (AML/CFT), Pakistan’s rating on the technical recommendations of the Financial Action Task Force (FATF) has been improved.

The APG, on Money Laundering, improved Pakistan’s rating on four more of the 40 technical recommendations of the FATF against money laundering and terror financing but retained it on ‘Enhanced Follow up’ to meet the outstanding requirements.

APG, a regional affiliate of the Paris-based FATF, announced that “Pakistan has 35 recommendations rated compliant or largely compliant (C/LC). Pakistan will remain on enhanced follow-up and will continue to report back to APG on progress to strengthen its implementation of AML/CFT measures.”

According to APG’s third Follow-Up Report (FUR) on Mutual Evaluation, Pakistan is now ‘fully compliant’ with eight recommendations and ‘largely compliant’ with 27 others.

The re-rating to compliant status was one-notch up and three others on largely compliant status.

Pakistan is ‘particularly compliant’ with three recommendations compared to seven in June this year and ‘non compliant’ with two out of total 40 recommendations. All in All, Pakistan is now compliant or largely compliant with 35 out of 40 recommendations of the FATF.