ISLAMABAD – In a blow to Pakistan, a delegation of the Financial ActionTask Force (FATF) has asked Pakistan to toughen its laws and implementationagainst terror financing and money laundering.

The Asia Pacific Group (APG) on Money Laundering, which is currently inPakistan, will submit a report to the Paris-based FATF which placedPakistan on its ‘grey list’ in June.

The delegation urged Pakistan to enact appropriate laws enabling localofficials to act upon requests of foreign countries to freeze illegalassets and extradite those involved in terrorism financing and moneylaundering.

Moreover, the delegation met officials of the Financial Monitoring Unit(FMU) of the State Bank of Pakistan, Securities and Exchange Commission ofPakistan (SECP), National Counter Terrorism Authority (NACTA), FederalInvestigation Agency (FIA) and representatives of ministries of interiorand foreign affairs.

The APG’s Mutual Evaluation report can play a critical role in retaining orremoving Pakistan from the grey list.