Pakistan blacklisted by Asia-Pacific Group of FATF for its failure to comply with terror funding standards

The Asia-Pacific Group (APG) of the Financial Action Task Force (FATF) is a global watchdog for terror financing and money laundering. It has recently put Pakistan in the Enhanced Expedited Follow Up List (Blacklist) for its failure to meet its standards. The APG has also found that Pakistan was non-compliant on 32 of the 40 compliance parameters of terror financing and money laundering. On 11 effectiveness parameters of terror financing and money laundering, Pakistan was adjudged as low on 10. According to officials, Pakistan could not convince the 41-member plenary to upgrade it on any parameter. Now, Pakistan has to focus on avoiding the blacklist in October 2019, when the 15-month timeline ends on the FATF’s 27-point action plan.

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