Staff Report
ISLAMABAD: The intergovernmental finance watchdog Asia Pacific Group (APG) Friday rendered Pakistan compliant on 31 of the 40 recommendations laid out by the Financial Action Task Force (FATF).
According to the results of the second mutual evaluation follow-up report on money laundering published June 2, Pakistan has “achieved compliant/largely compliant rating in 31 out of 40 in Technical Compliance”, the statement read. “These results prove the sincerity along with resolve of the Government in complying with FATF requirements.”
The results are being dubbed by the finance department of Pakistan as a manifestation of the irreversibility and sustainability of the complete process in bringing Pakistan at par with Global Anti Money Laundering and Combating the Financing of Terrorism standards by FATF. “These results are the manifestation of a whole of government approach adopted to achieve the same.”
The finance body said the upgrade of 21 Recommendations within this short period of time remains unprecedented in FATF history. Announcing the development earlier today, the Federal Minister for Energy Hammad Azhar said that Pakistan has successfully complied with 31 out of 40 points of action recommended by the FATF. Taking to Twitter to make the announcement, the minister who previously headed efforts to avoid Pakistan’s inclusion in the blacklist, said that Pakistan has achieved a compliant rating in 31 out of 40 recommendations of the anti-money laundering watchdog.
