Foreign Office Spokesperson Wednesday said that Pakistan’s effectiveness in anti-money laundering and combatting the financing of terrorism and proliferation (AML/CFT) regime has increased across all Immediate Outcomes, which has significantly mitigated risks and threats of money laundering and financing of terrorism.
In a statement, the spokesperson said that the Financial Action Task Force (FATF) technical team recently visited Pakistan and held detailed discussions with relevant agencies.
The meetings with the FATF team were held in a constructive and positive atmosphere. “From our perspective, it was a smooth and successful visit,” the statement said
The report of the FATF onsite team will be discussed in FATF’s ICRG (International Cooperation Review Group) and Plenary meetings, scheduled to be held in the third week of October in Paris.
The spokesperson said that FATF’s latest evaluation of Pakistan supersedes its findings in previous years. As a result of Pakistan’s strenuous and consistent efforts over the last four years, Pakistan has not only achieved a high degree of technical compliance with FATF standards it has also ensured a high level of effectiveness through the implementation of two comprehensive FATF Action Plans, and it is committed to continuing its efforts in this regard.
With regards to technical compliance with FATF standards, Pakistan has now been rated as compliant/ largely compliant in 38 out of 40 FATF recommendations, which places us among the top compliant countries in the world.
The statement added that the completion of both Action Plans by Pakistan in June 2022 is an acknowledgment by FATF of attaining a high level of effectiveness on FATF standards.
