The Financial Action Task Force (FATF), working to curb money laundering and terrorism financing, on Friday lauded Pakistan and issued its appraisal of Pakistan’s progress with regards to combating money laundering and terrorism financing and urged it to move quickly to meet a May 2019 deadline if it wishes to be de-listed. Given the limited progress on action plan items due in January 2019, the FATF urges Pakistan to swiftly complete its action plan, particularly those with timelines of May 2019, said the public statement.
“Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its AML/CFT [anti money laundering/combating financing of terrorism] regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has taken steps towards improving its AML/CFT regime, including by operationalising the integrated database for its currency declaration regime,” the FATF acknowledged in the statement.
“Pakistan has revised its TF [terrorism financing] risk assessment; however, it does not demonstrate a proper understanding of the TF risks posed by Da’esh, Al Qaeda, Jamaatud Dawa, Falah-i-Insaniyat Foundation, Lashkar-e-Tayyaba, Jaish-e-Muhammad, the Haqqani Network, and persons affiliated with the Taliban,” it said.
“Given the limited progress on action plan items due in January 2019, the FATF urges Pakistan to swiftly complete its action plan, particularly those with timelines of May 2019,” said the public statement.
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21 July, 2019