AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)
Pakistan

Head of US Delegation to FATF Scott Rembrandt arrives in Pakistan

  • Three-day visit aimed at discussing the country's action plan agreed with the forum
Published September 14, 2021

Scott Rembrandt, Head of the US Delegation to the Financial Action Task Force (FATF), arrived in Pakistan on Tuesday on a three-day visit aimed at discussing the country's action plan agreed with the forum, reported Aaj News.

Rembrandt also serves as the Deputy Assistant Secretary for Strategic Policy in the Office of Terrorist Financing and Financial Crimes at the US Department of the Treasury.

Pakistan to stay on FATF’s ‘grey list’

He is likely to meet Pakistani officials working on the FATF's action plan for the country.

Rembrandt is also expected to discuss Islamabad's progress on the issue of terror financing and money laundering, one of FATF's key concerns.

In July, the US asked Pakistan to expeditiously implement its new second action plan, while recognising Islamabad's efforts in satisfying obligations that would help its case with the FATF.

US encourages Pakistan to expeditiously implement FATF action plan

In June, Pakistan was kept on the FATF's increased monitoring list -- also called the grey list -- after having met 26 of the 27 items on the action plan.

It was also asked to work on "the deficiencies later identified in Pakistan's 2019 Asia Pacific Group (APG) Mutual Evaluation Report (MER)".

Pakistan compliant in 35 out of 40 recommendations in APG action plan

In August, it was reported that Pakistan is now 'compliant' or 'largely compliant' in 35 of the 40 recommendations put forth by the APG, according to the follow-up MER, an upgrade from the previous assessment in which the country met 31 out of the 40 points in the action plan.

However, the country will stay on the "enhanced follow-up", and continue to report back to the APG.

Pakistan has to meet all deficiencies identified in the APG action plan as well as one remaining item in the Financial Action Task Force (FATF)'s action plan to move off the 'grey list'.

"Pakistan has 35 Recommendations rated C/LC (compliant/largely compliant)," said the APG in the '3rd Follow-Up Report Mutual Evaluation of Pakistan July 2021'.

"Pakistan will remain on enhanced follow-up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT (anti money-laundering/combating the financing of terrorism) measures. Pakistan’s fourth progress report is due 1 February 2022."

Pakistan has been on the monitoring list since 2018 along with several other countries with deficiencies in the AML/CFT regime.

Comments

Comments are closed.

Zarzan khan Sep 15, 2021 12:54am
FM should present the ' Indian dossier of terrorism in Pakistan, Afghanistan and IOK, to the FATF deputy head. India should be on black list.
thumb_up Recommended (0)