ISLAMABAD – Financial Action Task Force (FATF) delegation has raisedserious concerns over Pakistan’s terror financing laws implementation.

FATF has urged Pakistan to toughen its laws and implementation againstterror financing and money laundering, media reports said.

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, according to reports, asked Pakistan to enact appropriatelaws enabling local officials to act upon requests of foreign countries tofreeze illegal assets and extradite those involved in terrorism financingand money laundering.

It met officials of the Financial Monitoring Unit (FMU) of the State Bankof Pakistan, Securities and Exchange Commission of Pakistan (SECP),National Counter Terrorism Authority (NACTA), Federal Investigation Agency(FIA) and representatives of ministries of foreign affairs and interior.

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