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Finance ministry denies Indian reports that FATF blacklisted Pakistan

The Asia Pacific Group adopted Pakistan's report

SAMAA | - Posted: Aug 23, 2019 | Last Updated: 2 years ago
Posted: Aug 23, 2019 | Last Updated: 2 years ago
Finance ministry denies Indian reports that FATF blacklisted Pakistan

Photo: AFP

The finance ministry has rejected Indian media reports about Pakistan being blacklisted by the FATF’s Asia Pacific Group.

In a statement issued on Friday, the Asia Pacific Group said it adopted six “significant” mutual evaluation reports during the annual meeting held from August 18 to 23.

The reports for China, Chinese Taipei, Hong Kong, Pakistan, the Philippines and Solomon Islands were analysed and discussed in detail over two full days and will now be subject to post-plenary quality and consistency review prior to publication, read the statement. The final reports will be published on the Asia Pacific Group’s website in early October.

The finance ministry said that the Asia Pacific Group has not blacklisted Pakistan nor does it have the authority to do so.

Related: Pakistan’s FATF grey list fate to be decided in October

It said Pakistan is satisfied with the proceedings during the meeting in Australia. The Pakistani delegation that went to Australia to submit the progress report was headed by State Bank Governor Reza Baqir.

It submitted a report on Pakistan’s progress in the implementation of anti-money laundering and anti-terrorism financing measures.  The FATF gave the government a 27-point action plan and said it must make progress on it by August 13, 2019. The plan includes things like stopping money laundering and terrorism financing.

The Asia Pacific Group adopted Pakistan’s third mutual evaluation report, which identified a number of areas where further action was required to strengthen anti-money laundering and combating the financing of terrorism framework. The FATF will make the final decision on whether to keep Pakistan on its grey list in October.

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fatf, asia pacific group, pakistan, finance ministry, grey list, black list, money laundering, terrorism financing

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