APG’s Mutual Evaluation Report comes as a major setback for Pakistan.
Intergovernmental organization Asia Pacific Group (APG) of Financial Action Task Force (FATF) has clinched that Pakistan has not taken sufficient measures to fully implement United Nations (UN) Security Council Resolution 1267 obligations against terrorist groups including Hafiz Saeed and other terrorists associated groups.
APG’s latest report named Mutual Evaluation Report of Pakistan, arises as a major setback for Pakistan, which faces the threat of being placed under the FATF’s “blacklist“.
Pakistan faces a significant TF threat.
“Terror Financing cases are identified by number of mechanisms but not via financial intelligence. Pakistan has registered 228 TF cases and convicted 58 individuals (Pakistan has not undertaken any TF investigations of legal persons), which is not consistent with Pakistan’s overall level of TF risk,” the report said.
The report also said, “the vast majority of investigations and all of convictions were obtained at the provincial level including 49 convictions in Punjab.”
It further said, “a total of nine TF convictions for all other provinces in Pakistan is not consistent with province specific TF risks. NACTA has taken some recent steps aimed at improving TF coordination and integration with Counter-terrorism strategies.”
The APG has asked the country to “identify, assess and understand” its Money Laundering or terror financing risks.
Pakistan was placed on the body’s “grey list” in 2018, and given a 15-month time limit to implement its action plan.
Pakistan Mutual Evaluation Report (MER) 2019.
