FATF rejects reports by Indian media about APG blacklisting Pakistan

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  • Media reports being circulated about Pakistan portraying it blacklisted by FATF affiliate Asia Pacific Group are incorrect and baseless; Pakistan’s Finance Ministry.
  • Alexandria Wijmenga who is the spokesperson for the Financial Action Task Force said that only the watchdog holds the authority to blacklist a country.
  • Pakistan is required to submit the follow-up progress reports to APG on a quarterly basis.

FATF_Pakistan_APG

Media reports being circulated about Pakistan portraying it blacklisted by FATF affiliate Asia Pacific Group are incorrect and baseless, Pakistan’s Finance Ministry announced today. The ministry in a statement said that the APG in its 22nd Annual Meeting held in Australia has adopted Pakistan’s third Mutual Evaluation Report and placed Pakistan in its enhanced follow-up as per APG’s mutual evaluation procedures.

Pakistan is required to submit the follow-up progress reports to APG on a quarterly basis, APP report read. According to the report of a private TV channel, Alexandria Wijmenga who is the spokesperson for the Financial Action Task Force said that only the watchdog holds the authority to blacklist a country not its affiliates do.

News 18 from New Delhi reported as of today that APG of FATF has found that Pakistan did not show compliance on 32 out of 40 compliance parameters of terror financing and money laundering. The country had submitted a450 page compliance report detailing all the changes that the government has made in existing laws as well as actions taken against terror groups within the past year and a half, the Indian media report added.

Also See: India’s Bid To Blacklist Pakistan By FATF Fails Due To Malaysia’s Support

Pakistan has been placed in the grey list by FATF something that is not good for the country’s IMF loan program and separate evaluations are currently in progress on whether to exit the country from the grey list or not. The organization will hold its next meeting by October this year.

How do you see Pakistan’s efforts to exit from the grey list of FATF? Let us know in the comment section

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