FATF team visit Pakistan recently Financial Action Task Force team was smooth and successful and their focus was to validate country’s on-ground commitment and sustainability of reforms.
In a declaration issued today, Foreign Office Spokesman Asim Iftikhar Ahmad a FATF technical team freshly visited Pakistan and held detailed negotiations with pertinent agencies and from their perspective, it was a smooth and successful visit.
“The focus of the visit to validate on ground Pakistan’s high-level commitment and sustainability of reforms in our AML/CFT regime,” he said adding, the meetings with FATF team held in a productive and positive atmosphere.
The spokesman shared that the Report of FATF onsite team argued in FATF’s ICRG (International Cooperation Review Group) and Plenary meetings, scheduled to held in the third week of October 2022 in Paris. “Pakistan is looking forward to logical conclusion to the ongoing evaluation process,” he added.
The foreign office said that as regards the status of Pakistan’s progress, FATF’s newest evaluation of Pakistan supersedes its findings in preceding years.
“As a result of Pakistan’s strenuous and consistent efforts over last four years, Pakistan not only achieved a high degree of technical compliance with FATF standards it also ensured high level of effectiveness through implementation of two comprehensive FATF Action Plans, and it committed to continuing its efforts in this regard.”
With regard to technical compliance with FATF standards, the foreign office said that Pakistan now rated as compliant or chiefly compliant in 38 out of 40 FATF recommendations, which places us among the top compliant countries in the world.
The spokesperson said that end of both action plans by Pakistan in June 2022 is, in fact, an acknowledgement by the task force of achieving a high level of effectiveness on FATF standards. “Over last four years, Pakistan’s effectiveness in AML/CFT regime has increased across all Immediate Outcomes, which has significantly mitigated risks and threats of money laundering and financing of terrorism.”