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

[PradoTLC]

SYDNEY/PARIS: The Asia/Pacific Group on Money Laundering (APG) on Saturday published its report on money-laundering and terror-financing in Pakistan, a week before its Paris-based G7 counterpart, the Financial Action Task Force (FATF), is set to announce its decision to remove or retain Islamabad in its grey list.

The long-awaited 228-page report, titled “Mutual Evaluation Report 2019,” would provide a basis for the FATF — the international money-laundering and terror-financing watchdog — to make its decision in an upcoming Paris meeting scheduled for October 13-18, keeping in view Pakistan’s compliance with the parameters it had set earlier.
The APG report states that Pakistan has largely but partially complied with 36 of the 40 parameters set by the FATF at the time of the country’s inclusion in the grey list.

However, it pointed out that Islamabad only missed four of the total 40 parameters that it was to follow in order to be effectively removed from the list.

The four missed parameters comprise: Transparency & BO (beneficial owner/ownership of legal arrangements; DNFBPs (designated non-financial businesses and profession) customers’ due diligence; regulation and supervision of the DNFBPs; and mutual legal assistance freezing and confiscation.

The report further said Pakistan’s performance on international cooperation was moderate.

Also read: Pakistan thwarted India’s FATF blacklist move

It stressed on the country’s weakness pertaining to risk policy, supervision of coordination, preventive measures, legal personnel arrangements, financial intelligence, money-laundering and terror-financing (TF) investigations, prosecution and confiscation, production of TF preventive measures and 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’s progress on the FATF action plan.
https://www.geo.tv/latest/250237-pakistan-largely-complied-with-36-of-40-fatf-parameters-apg-report

this all false news... remember that hendoo minister on Surgical strike video he claim they can put Pakistan on black any time...

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.

says who?

the indian media?..

didnt u guys claim we are on the black list??

 

[Mav3rick]

Exactly my thoughts about FATFs current decision. I would be happier if they could give even tougher time to Pakistani beghyrat elite.

It is the lower and middle class that bears the brunt of such international punitive actions. Most of the elite have protection since their investments are either outside the country, in USD/Gold/Property or has sovereign return guarantees based on PKR:USD conversion.

 

[Soumitra]

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

Non Compliant - 4/40
Partially Compliant - 26/40
Largely Compliant - 9/40
Compliant - 1/40

To me this looks like 4 F's, 26 C's, 9 B's and just 1 A. Not a very good report card.

 

[venu309]

https://www.voanews.com/extremism-watch/analysts-pakistan-still-risk-being-placed-fatf-blacklist

 

[RangeMaster]

Non Compliant - 4/40
Partially Compliant - 26/40
Largely Compliant - 9/40
Compliant - 1/40

To me this looks like 4 F's, 26 C's, 9 B's and just 1 A. Not a very good report card.

Yes, not a good report. Pakistan will be blacklisted then redlisted then bluelisted. FATF will invade Pakistan using Indian army. Pakistan will fall. India will be next supapower. 99% of world's toilets will then be constructed in India. Happy now?

 

[Counter-Errorist]

Looking at their report, curiously, Pakistan Post has received significant attention. I wonder what's up with that?

 

[Baz]

I mean FATF is a big thing, simple thing like PayPal were enough to tell that Pakistani banking system actually sucks. Our incompetency in banking sector has reached to a level that we still unable to take full advantage of almost 2 billion dollar indigenous freelance industry..
Kahan tak suno gy kahan tak sunain..

There are many big players other than paypal that freelance gig economy can use

 

[fitpOsitive]

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.

Hahaha... Reminds my one day.
I got cash of 200000 and kicked my bike. Guys stopped me on my way home and demanded exactly the 03333688768 amount. Later in investigation it was revealed that the received a phone call

There are many big players other than paypal that freelance gig economy can use

For example..

 

[Baz]

Hahaha... Reminds my one day.
I got cash of 200000 and kicked my bike. Guys stopped me on my way home and demanded exactly the 03333688768 amount. Later in investigation it was revealed that the received a phone call

For example..

• Amazon Pay.
• Braintree.
• Intuit.
• Authorize.net.
• WePay.
• Stripe
• 2Checkout

 

[-blitzkrieg-]

When will FATF lay its hands on the big banks that harbour corruption money and refuse to return it when asked.

 

[Cobra Arbok]

https://www.voanews.com/extremism-watch/analysts-pakistan-still-risk-being-placed-fatf-blacklist

Even Pakistani media is reporting the same

https://tribune.com.pk/story/2073728/2-pakistans-fatf-compliance-poor-apg-report/