Pakistan & FATF

 

Pakistan not yet off the FATF hook

Gray list from page 1.

                Interesting, some of these entities and their leaders are now part of the interim Afghan government. That makes it impossible for Pakistan to move against them. Pakistan was placed on the FATF gray list w.e.f June, 2018 and was asked to implement a 27 point action plan to exit it. To a question about Indian Minister claim that the Prime Minister Narandra Modi government had ensured that Pakistan remained on the gray list, pleyer said the FATF was a technical body and it made decisions by consensus “the decision to retain Pakistan under increased monitoring is also taken with consensus”.

                The another question by Indian journalist pleyer said that there was no decision to blacklist Pakistan, as the government was co-operating with the FATF and had already completed 30 points of the 34 action point. The FTAF stated that since June 2018 when Pakistan made a political commitment to work with the global body and the APG (Asia Pacific Group) to strengthen its AML/CFT regime and to the address its strategic counter terrorist financing- related deficiencies, the country had made significant progress across a comprehensive plan. While Pakistan has reported some steps, the FATF encourages to continue to make progress to address as soon as possible the one remaining CFT-related item by continuing to demonstrate that TF (Terror Financing) Investigations and prosecutions target senior leaders and commanders of UN designated terrorist group.

             In response to additional deficiencies later identified in Pakistani’s 2019 APG mutual evaluation report (MER), in June 2021, Pakistan provided further high level commitment to address these strategic deficiencies pursuant to a new action plan that primarily focuses on combating money laundering, it added the global watchdog said since June 2021 Pakistan had taken swift steps towards improving its AML/CFT regime, including by enacting legislative amendments to enhance its international co-operation framework, demonstrating DNFBP (Designated Non-Financial Business and Professions) monitoring for PF-TFS (Terrorist Financing and Financing of Pro-liferation) and supervision commensurate with the risks, and applying sanctions for non-compliance with beneficial ownership requirements.

                In response the Finance Ministry said the FATF had recognized considerable progress made by Pakistan on both the actions plan. In added that on the remaining three actions items was well underway and the country aimed to complete them ahead of timeline said by the FATF. The Ministry said that the remaining action items in 2021 action plan included investigation and prosecution of money laundering cases, confiscations of assets and UN listings. We submitted a comprehensive progress report on the last remaining action plan item agreed under the June 2018 plan.

                The Ministry added that FATF would undertake the next review of Pakistan’s progress in February 2022. Pakistan is fully committed to completing both its action plans incorporation with FATF and its international partners separately, President Mr. Arif Alvi gave a one-year extension to Khawaja Adnan Zahir, who was appointed FATF cell Director General two years ago. Zahir had retired from government service but was re-employed in the FATF cell. His new one year turn begins on Friday.