Pakistan largely complied with 36 of 40 FATF parameters: APG report

[fitpOsitive]

That is totally wrong i think you havent use internet banking in Pakistan or open an account recently?

Try transfer of money and you will understand how good our system has become now.

Why paypal is not coming is due to increase of money laundering by our politicians and others. Why we always criticise system ?

Difficult is not always good. The issue is the systems which keep an eye on ins and outs. We need a total control on the way the money scapes or comes in.

 

[AZ1]

Difficult is not always good. The issue is the systems which keep an eye on ins and outs. We need a total control on the way the money scapes or comes in.

Recently i transfer amount from one bank to another bank at 4am morning time and within 15 mint i got a call asking if this transfer is from me or someone else.

So what more i could ask as for security.

 

[Haris Ali2140]

Recently i transfer amount from one bank to another bank at 4am morning time and within 15 mint i got a call asking if this transfer is from me or someone else.

So what more i could ask as for security.

He is talking about illegal means. Things like Be Nami accounts & how easily you can open such accounts.

 

[AZ1]

He is talking about illegal means. Things like Be Nami accounts & how easily you can open such accounts.

yes and its not easy to open an account now. Ofcourse if you have CM or PM you can open as many but that can happen in any country if having such support

 

[Vortex]

Bunch of bull shit.... they want us to take steps against money laundering??.... yet any murderer , rapist, genocide suspect , corrupt politician can bring ill gotten money to England or Canada and get VIP treatment.
I know PPP leaders who come and stay with this female in Mississauga who basically runs a brothel. PPP politicians come to shop and vacation and it is her job to provide entertainment and arrange their trips.
Shirin Rehman was the last one I know who came and bought a house here..... no one even cares to ask where the money came from.

Outright stupid and hypocritical countries ...

If we had top best practices compliant banking system, no one would have been able to loot and send there the money. At least on the scale we know today.

They enjoyed the looted money, we were not happy. Now they say stop, enough is enough. Still we should be not happy ?

 

[Thamizh Puli]

In June 2019 this is what FATF said - there were 9 serious action plan requirements; I wonder how that relates to the 40 parameters referred to here?

Pakistan

Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its AML/CFT regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has taken steps towards improving its AML/CFT regime, including the recent development of its TF risk assessment addendum; however, it does not demonstrate a proper understanding of Pakistan’s transnational TF risk.. Pakistan should continue to work on implementing its action plan to address its strategic deficiencies, including by: (1) adequately demonstrating its proper understanding of the TF risks posed by the terrorist groups , and conducting supervision on a risk-sensitive basis; (2) demonstrating that remedial actions and sanctions are applied in cases of AML/CFT violations, and that these actions have an effect on AML/CFT compliance by financial institutions; (3) demonstrating that competent authorities are cooperating and taking action to identify and take enforcement action against illegal money or value transfer services (MVTS); (4) demonstrating that authorities are identifying cash couriers and enforcing controls on illicit movement of currency and understanding the risk of cash couriers being used for TF; (5) improving inter-agency coordination including between provincial and federal authorities on combating TF risks; (6) demonstrating that law enforcement agencies (LEAs) are identifying and investigating the widest range of TF activity and that TF investigations and prosecutions target designated persons and entities, and persons and entities acting on behalf or at the direction of the designated persons or entities; (7) demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions and enhancing the capacity and support for prosecutors and the judiciary; and (8) demonstrating effective implementation of targeted financial sanctions (supported by a comprehensive legal obligation) against all 1267 and 1373 designated terrorists and those acting for or on their behalf, including preventing the raising and moving of funds, identifying and freezing assets (movable and immovable), and prohibiting access to funds and financial services; (9) demonstrating enforcement against TFS violations including administrative and criminal penalties and provincial and federal authorities cooperating on enforcement cases; (10) demonstrating that facilities and services owned or controlled by designated person are deprived of their resources and the usage of the resources. The FATF expresses concern that not only did Pakistan fail to complete its action plan items with January deadlines, it also failed to complete its action plan items due May 2019. The FATF strongly urges Pakistan to swiftly complete its action plan by October 2019 when the last set of action plan items are set to expire. Otherwise, the FATF will decide the next step at that time for insufficient progress.

 

[Kabira]

FAFT is best thing that happened to Pakistan. In short term it will slow down economy but in the long run it will be good.

 

[AZ1]

Currently there is no income record of lawyers proper one and neither of doctors. So they will raise voice as well.

IK may not win again but he will definetly put Pakistan on right track with this as public 99% dont want to pay income tax or have their income documented.

 

[swnjo]

https://public.flourish.studio/visualisation/736948/embed

 

[Kabira]

https://public.flourish.studio/visualisation/736948/embed

Looking at the list, Pakistan may need few more years to get out of grey list. But chances of black list are now over.

 

[blueazure]

FATF black mail of Pakistan continues , LOL

this is such B.S really ,

all countries in the world do organized money laundering , the whole UK is running on offshore business and money whitening and no one asks them a question.

as we say in pakistan , bc truck ki bati k peechay laga do inn ko ,

 

[Yaseen1]

fatf is not concerned with stopping money laundering,it only wants to end financial support to kashmiris in iok

 

[blueazure]

fatf is not concerned with stopping money laundering,it only wants to end financial support to kashmiris in iok

switzerland,

sitting in heart of europe, sari dunya ka chori ka paisa is sitting in numbered accounts without even names ,

FATF k baap bhi nahi pooch sakta unn ko


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in all fairness to pti , i admire their passion to fix things , but incompetency is as big as an issue as corruption ,

 

[swnjo]

Looking at the list, Pakistan may need few more years to get out of grey list. But chances of black list are now over.

will know by next week perhaps, but largely compliant and partially compliant are not good indicators. pakistan has been compliant on only 1 parameter,which is not a good sign.

 

[Kabira]

will know by next week perhaps, but largely compliant and partially compliant are not good indicators. pakistan has been compliant on only 1 parameter,which is not a good sign.

It shows Pakistan is working towards FAFT goals. Pakistan government is asking people to change the way they do business since last 70 years. May take few more years. FAFT will continue to monitor and present report after every 3 months.