Pakistan Makes Progress on 39 of 40 Items of FATF
The country has amended its existing laws related to money laundering in line with international standards
Pakistan has shown compliance with 39 of 40 recommendations of the Financial Action Task Force (FATF).
Asia Pacific Group (APG) has released its Mutual Evaluation Report (MER) report before the next assessment of tasks due in February 2022.
Pakistan has not been able to pull out itself from the grey list despite it has shown impressive progress on nearly all recommendations since it came under the spotlight.
APG has pursued Pakistan’s progress on 40 items it had assigned to it.
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The group has expressed satisfaction with the overall progress but showed reservations on discrepancies in the financial affairs of the Pakistan Post.
Besides this, Pakistan has not significantly advanced on the recommendation pertaining to the mechanism for reporting dubious investments in the real estate sector.
However, AGP has hailed the country for its anti-money laundering (AML) efforts.
The report said that the country amended its existing laws related to money laundering in line with international standards.
