Updated By: LatestGKGS Desk
FATF Asia Pacific Group Puts Pakistan On Enhanced Blacklist
FATF Asia Pacific Group Puts Pakistan On Enhanced Blacklist: Details, Reason, Aim
FATF (Financial Action Task Force) officially attached Asia Pacific Group (APG) on 23rd August 2019, has put Pakistan on 'Enhanced' Blacklist for its failure in combating terrorism, money laundering and meeting the required global standards.
Pakistan was put in the Enhanced Blacklist (also known as Expedited Follow Up List) due to the reasons that include:
- Pakistan was non-compliant in 32 of the 40 Compliance Parameters on Money Laundering & Terror Financing
- Pakistan was low in 10 of the 11 Effectiveness Parameters
Pakistan decision to put on the blacklist by the 41 members APG Plenary meeting that lasted for over 7 hours on two days in Canberra, Australia.
Currently, there are 41 members of APG. Of these, 11 countries are also the members of the head FATF – India, China, Australia, Canada, Hong Kong, Japan, Korea, Malaysia, New Zealand Singapore and the United States.
Pakistan now has to focus on avoiding its entry into the Financial Action Task Force (FATF) Black List in October 2019.
FATF will hold a Plenary meeting in Paris October 2019 to decide on Pakistan’s Grey list status. FATF added Pakistan on its Grey List in June 2018
