Pakistan is facing the heat for its role in terror financing and money laundering. The Asia-Pacific Group, the regional affiliate of the FATF will evaluate Pakistan’s compliance on its 27-point action plan in Bangkok today. The exercise is a prelude to Pakistan’s final review by the FATF. The plenary and working group meetings of the task force is scheduled for October 13-18 in Paris.
The global watchdog, FATF has already put it on notice in its Grey list. Islamabad has now to show tangible results else it faces the ignominy of being black listed by FATF in its meeting next month. The Asia Pacific Group held its last meeting in Canberra on 23rd August and found that Pakistan was non-compliant on 32 of the 40 parameters of terror financing and money laundering.
On 11 effectiveness parameters of terror financing and money laundering, Pakistan was adjudged as low on 10. Despite its efforts, Pakistan could not convince the 41-member plenary to upgrade it on any parameter.