Islamabad: Pakistan’s rating on the technical recommendations of the Financial Action Task Force (FATF) has improved according to the latest report by Asia Pacific Group (APG) on Money Laundering. However, the country’s status is retained on ‘Enhanced Follow-up’ for additional requirements.
Pakistan has achieved compliant or largely compliant ratings in 31 out of 40 FATF technical recommendations according to the report published on June 2. As a result of the substantial progress, APG has decided to move Pakistan “from enhanced (expedited) to enhanced follow-up” and said that the country “will continue to report back to the APG on progress to strengthen its implementation of anti-money laundering and combating financing terror (AML/CFT) measures.”