The U.S. and every other country that gives aid to Pakistan should cut off this jihad-enabling state immediately.
About the FATF’s Asia-Pacific Group: “The purpose of the Asia/Pacific Group on Money Laundering (APG) is to ensure the adoption, implementation and enforcement of internationally accepted anti-money laundering and counter-terrorist financing standards as set out in the FATF Forty Recommendations and FATF Eight Special Recommendations. The effort includes assisting countries and territories of the region in enacting laws to deal with the proceeds of crime, mutual legal assistance, confiscation, forfeiture and extradition; providing guidance in setting up systems for reporting and investigating suspicious transactions and helping in the establishment of financial intelligence units. The APG also enables regional factors to be taken into account in the implementation of anti-money laundering measures.”
“FATF Asia-Pacific Group blacklists Pakistan over non-compliance in terror financing,” Business Today, August 23, 2019:
Global Financial Action Task Force’s (FATF) regional sub-group APG (Asia-Pacific Group) has blacklisted Pakistan for non-compliance of anti-money laundering and combating terror financing efforts. The decision was taken in a review meeting in Canberra, Australia, on August 22-23. The Pakistani delegation was led by Dr Reza Baqir, the Governor State Bank of Pakistan.
Despite Pakistan’s contentions on improving its grading on nearly 50 parameters, Pakistan failed to garner support from the 41-member plenary. The body placed Pakistan on ‘Enhanced Expedited Follow-Up List’ (blacklist) for failing to meet the requirements.
Of total 40 parameters set by the regional grouping, Pakistan failed on around 36, while it passed on only one of the total 11 ‘effectiveness’ parameters. Pakistan had submitted its compliance report comprising its 27-point action plan to the Financial Action Task Force (FATF). The report could not pass the scrutiny of the APG, which found Islamabad lacking on several fronts.
The current blacklisting of Pakistan would make its case much more difficult during FAFT review in October. Pakistan has to show compliance on the FATF action plan in the next plenary session, which will do the final review in October…
The Financial Action Task Force is an inter-governmental body, which was established in 1989. Its task is to ensure effective implementation of legal, regulatory and operational measures to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system. A policy-making body, FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.