The Financial Action Task Force (FATF) Asia Pacific Group (APG) is expected to review Pakistan's crucial compliance report on efforts to curb money laundering and terror financing during its meet in Bangkok today. Based on Pakistan's answers and its own observations. APG will send a report to FATF plenary which will seal Pakistan's fate whether it should remain on the grey list, be taken out or blacklisted in Paris next month.
The global terror watchdog's APG will also evaluate Pakistan's efforts on freezing of assets of banned outfits and action taken against their movement.
Pakistan had submitted a compliance report on its action plans on August 13, 2019.
Pakistan was asked to respond to FATF's questionnaire comprising 126 questions before September 6 and it did so on September 5.
FATF is likely to raise questions and point out discrepancies in the answers to Pakistan delegation during face to face meeting.
Pakistan would then be given time till September 12 to respond to FATF questions raised in the ongoing meeting in Bangkok.
The first round of negotiations between Pakistan and FATF to focus on evaluating Pakistan’s progress report on 27 pointer action plan between April 2019 to August 2019.
Negotiations to also focus on bringing the gold traders in the registration ambit, make the CNIC provision mandatory in case of buying/selling gold. Pakistan is committed to stopping the handover of gold/jewellery to banned outfits as donations, sources said.
Pakistan’s 18 member delegation led by Federal Minister for Economic Affairs Hammad Azhar comprises officials from Ministry of Finance, SECP, State Bank, Financial Monitoring Unit(FMU), Interior Ministry, Foreign Ministry, NACTA, FBR and FIA.
The global terror watchdog's APG will also evaluate Pakistan's efforts on freezing of assets of banned outfits and action taken against the movement of banned outfits.