During the three-day dialogues between Pakistan and Asia-Pacific Group (APG) on money laundering, a regional affiliate of the Financial Action Task Force (FATF), Pakistani officials answered all harsh questions raised by the members and also presented its arguments about Islamabad’s efforts against money laundering and terror financing.
The international institution was also briefed how Pakistan stopped banking and non-banking funding of terrorists. The next round of talks will be held from June 17-20 in the United States of America.
Now in a next step, the APG will submit to the FATF its analysis of the compliance report submitted by Pakistan on the basis of its deliberations and cross-questioning at the Guangzhou meeting and the progress made since the group’s on-site inspection in Islamabad and Karachi in March. The APG report will become the basis for the FATF to exclude Pakistan from its grey-list or otherwise.
Earlier, a delegation of Pakistani officials delegation led by Finance Secretary Mohammad Younas Dagha comprises officials from the Financial Monitoring Unit, Ministry of Foreign Affairs, National Counter Terrorism Authority, the interior ministry, the Federal Board of Revenue (FBR), the State Bank of Pakistan, Securities and Exchange Commission of Pakistan and the Federal Investigation Agency, attended two-day APG session in China.
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27 September, 2019