ISLAMABAD – A six-member delegation of the FATF Asia Pacific Group (APG)has arrived in Pakistan to assess the ground situation over the issue ofcounter financial terrorism.

FATF delegation has asked Pakistan to strengthen the legal framework bymaximising penalty and imprisonment period for those proven to be involvedin such offences.

At a time when political transition is taking place in Pakistan, the APGdelegation is visiting Pakistan to review the progress on the action planto comply with the 40 recommendations placed by the Financial Action TaskForce (FATF). “On the first day of deliberations here on Monday, the APGand Pakistani side reviewed recommendations of the FATF in detail relatedto money laundering and the Pakistani law enforcement agencies briefed thevisiting delegation about the proposed steps under which the penalty willbe doubled and the imprisonment period will be increased throughlegislative amendments with the approval of newly parliament,” officialsources confirmed to The News here on Monday.

Official sources said the visiting APG delegation might hold Officialsources said that the visiting APG delegation might hold meeting withcaretaker Finance Minister Dr Shamshad Akhtar on Wednesday (tomorrow) fordiscussing Pakistan’s preparedness to combat money laundering and terrorfinancing in effective manner.

The sources said that the APG delegations would stay in Pakistan tillAugust 17 as the ongoing review would be accomplished on August 16, andthen they would return back next day.

Another delegation was scheduled to visit Pakistan by October this year toreview progress on the basis of 11 month basis and final progress would bescrutinised by January 2019 after completion of 15 month report for whichIslamabad sought to get out from grey list and possibility of further downgradation into black list.

Pakistani side on Monday made all out efforts to convince the visiting APGdelegation that the money laundering and terrorist financing risk had beenunderstood and they were ready to coordinate at domestic and externalfronts for taking appropriate actions to combat money laundering and thefinancing of terrorism and proliferation.

The financial intelligence and all other relevant information areappropriately used by competent authorities for money laundering andterrorist financing investigations. The money laundering offence andactivities are investigation and offenders are prosecuted and subject toeffective, proportionate and dissuasive sanctions.