INSUBCONTINENT EXCLUSIVE:
SYDNEY/PARIS: As the Financial Action Task Force (FATF) gears up to announce its decision to remove or retain Pakistan in its grey list next
week, its Australia-based counterpart, the Asia/Pacific Group on Money Laundering (APG), on Saturday published its report on Islamabad's
progress.The 228-page report titled &Mutual Evaluation Report 2019& would become a basis for the FATF — the international money-laundering
and terror-financing watchdog — to finalise its decision in an upcoming meeting in Paris, scheduled for October 13-18, keeping in view
Pakistan compliance with the parameters it had set earlier.The APG report notes that Pakistan largely but partially complied with 36 of the
40 parameters set by the FATF — a 90 percent progress — at the time of the country inclusion in the grey list but only missed four, or
10 percent, of the parameters it was to follow for its effective removal from the list.Did you know FATF dismissed India's baseless
reports of blacklisting?The four parameters that Pakistan missed comprise:DNFBPs (designated non-financial businesses and profession):
Customer due diligence;Transparency - BO (beneficial owner/ownership) of legal arrangements;Regulation and supervision of the DNFBPs;Mutual
legal assistance: freezing and confiscationThe report highlighted that the country performance on international cooperation was
moderate.Nonetheless, it stressed on Pakistan weakness in terms of risk, policy and coordination; supervision; preventive measures; legal
persons and arrangements; financial intelligence; money-laundering (ML) investigations and prosecution; confiscation; terror-financing (TF)
investigations and prosecution; TF preventive measures and financial sanctions; proliferation-financing (PF) financial sanctions.Last month,
a high-level Pakistani delegation led by Economic Affairs Minister Hammad Azhar had attended a two-day meeting with the APG to discuss
Islamabad progress on the FATF action plan.Read more:TheIndianSubcontinent has not verified the content of the source
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