SYDNEY/PARIS: In a positive development, Pakistan is most likely to beremoved from FATF Greylist based on the Asia Pacific Group report.
The Asia/Pacific Group on Money Laundering (APG) published its report onmoney-laundering and terror-financing in Pakistan recommending the stepsPakistan has taken over counter terrorism financing.
The report is published week before its Paris-based G7 counterpart, theFinancial Action Task Force (FATF), is set to announce its decisionlink to remove or retain Islamabad in itsgrey list.
The long-awaited 228-page report, titled “Mutual Evaluation Report 2019,”would provide a basis for the FATF — the international money-laundering andterror-financing watchdog — to make its decision in an upcoming Parismeeting scheduled for October 13-18, keeping in view Pakistan’s compliancewith the parameters it had set.link
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The APG report states that Pakistan has largely but partially complied with36 of the 40 parameters set by the FATF at the time of the country’sinclusion in the grey list.
However, it pointed out that Islamabad only missed four of the total 40parameters that it was to follow in order to be effectively removed fromthe list.
