Asia-Pacific Group evaluates Pakistan’s anti-money laundering measures

ISLAMABAD: A high-level delegation led by State Financial institution of Pakistan Governor Dr. Reza Baqir attended the 22nd annual assembly of the Asia-Pacific Group (APG) in Canberra this week.

The assembly mentioned Pakistan’s third Mutual Analysis Report (MER) that covers the interval between February and October 2018 and factors out quite a lot of areas the place additional actions are required to strengthen the anti-money laundering (AML) and countering financing of terrorism (CFT) framework, stated an announcement put out by the Pakistan Info Division (PID) right here immediately.

The report doesn’t cowl the areas the place the Authorities of Pakistan has made substantial progress since October 2018.

In the course of the discussions, the delegation welcomed engagement with the worldwide neighborhood in its efforts to countering terrorism and cash laundering.

The delegation briefed the APG members on the steps taken in latest occasions for bettering its AML/CFT framework in addition to the actions for making certain efficient implementation of the FATF Motion Plan.

The delegation additionally held quite a lot of bilateral conferences with key delegations to transient them on the progress achieved by Pakistan in implementing the FATF Motion Plan.

It’s noteworthy that Pakistan is a member of the APG since 2000.

The APG is a regional physique of the Monetary Motion Job Pressure (FATF) and requires its members to endure mutual analysis on the compliance of its anti-money laundering and countering financing of terrorism (AML/CFT) framework with FATF suggestions.

In the course of the conferences, Pakistan’s Monetary Monitoring Unit (FMU) additionally signed an MoU with the China Anti Cash Laundering Monitoring and Evaluation Heart (CAMLAC) on trade of monetary intelligence.

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