Pakistan and FATF

FATF recommendations for Pakistan.

• Pakistan submitted first report in January 2019
• Commitment to curbing terrorism financing.
• FATF urged for strict action against banned organizations.
• In the second assessment meeting of FATF in February 2019
• An observation TF risks posed by organizations like Al Qaeda, Daesh,
Haqqani network and others.
• Timeline given demonstrate its action against such groups till May
2019.
Deficiencies
• SBP awareness program about the risk mitigation techniques and tools to
stakeholders.
• Financial Monitoring Unit must actively cooperate with international
community in investigating the international cases of terrorism.
• Capacity and capability of judiciary working on cases of TF.
• Assessment of NPO in term of compliance to 1267 & 1373.
• Improvement of NACTA in coordinating among all Law enforcement
agencies.
• Federal Board of Revenue (FBR) and Customs actions for cash couriers
identification and control.
Initiatives
• Legislation done at national level for TF and ML

• Anti-Terrorism Amendment Act, 2013

• Anti-Money Laundering Act, 2015
• Anti-Money Laundering Regulations, 2015.
• Anti-Money Laundering and Combating the Financing of
Terrorism (AML/CFT) Regulations for Banks and DFIs (2017).
• Securities and Exchange Commission of Pakistan (Anti-
Money Laundering and Countering Financing of Terrorism)
Regulations, 2018.
An important question arises here

Has Pakistan taken enough measures to

be removed from FATF grey list?