ISLAMABAD – Financial Action Task Force Asia Pacific Group places Pakistanon Enhanced Follow up list.
The Ministry of Finance Friday categorically rejected Indian media reportsabout Pakistan being blacklisted by the Asia-Pacific Group (APG) – theregional affiliate of the Financial Action Task Force (FATF).
The ministry in a press statement clarified that APG in its 22nd AnnualMeeting held in Canberra, Australia, from August 18-23, 2019, adoptedPakistan’s 3rd Mutual Evaluation Report and put Pakistan in its enhancedfollow-up as per APG’s Third Round Mutual Evaluation Procedures.
In line with the APG’s Third Round Mutual Evaluation Procedures, Pakistanwill be required to submit follow-up progress reports to APG on quarterlybasis. “Media reports, being circulated about Pakistan, being blacklistedby APG are incorrect and baseless,” the ministry said.
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FATF Communications Management Advisor Alexandra Wijmenga-Daniel,meanwhile, said that the decision to place a country’s name on theblacklist can only be taken by the global watchdog and not its regionalaffiliates. “At each Plenary meeting, the FATF discusses and updates itstwo public documents identifying jurisdictions that may pose a risk to theinternational financial system. The decision to make modifications to thesedocuments (including blacklisting or removal) lies with the FATF Plenaryonly,” she explained.
