FATF: Pakistan threat of blacklisting

Global Anti-terror financing watchdog, Financial Action Task Force – FATF’s Regional arm, Asia Pacific Group- APG is meeting in Bangkok to evaluate Islamabad’s compliance to its commitments on terror financing & money laundering on which it has failed miserably so far.  Pakistan has to answer 125 questions regarding its track record to curb terror financing.

Focus on the September 9-13 meet in Bangkok is on reviewing the progress made by Islamabad on its June 2018 commitment when it agreed on 27 points action point. At the end of this meet on September 13, the global watchdog, FATF will decide whether Pakistan’s name stays on the grey list or if it would be added to the blacklist. APG’s recommendations will be placed before FATF to take a final call in its meeting on 13 & 14 October in Paris.

After being greylisted in June 2018, Pakistan had made high-level political commitments to address its counter-terrorist financing-related deficiencies which basically means to act on the financing of terrorist activities. 18 of the 27 action points are yet to be implemented by Islamabad.

On 40 compliance parameters, Pakistan failed on 32 counts and its actions are under scrutiny for one year. The FATF deadline ends Mid October this year. So, all eyes are on the deliberations at APG in Bangkok, whether Islamabad will be able to convince global community on its intentions to come clean on terror funding & money laundering.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s