August 5, 2021

FATF Scrutinizes Pakistan’s Anti-Terror Financing Efforts

The first official meetup of the Pakistani officials and the Financial Action Task Force (FATF) officials from the Asia Pacific Group (APG) was conducted on Monday 9th of September in Bangkok. Pakistan’s delegation consisted of fifteen members headed by the Minister for Economic Affairs Mr. Hammad Azhar and according to experts, the performance of the delegation was good.

The APG in the previous meeting, a month ago, had raised some concerns regarding the steps taken by Pakistan to comply with the FATF conditions and had even directed Pakistan’s authorities to submit quarterly reports instead of biannual ones.

In this meeting, the officials discussed Pakistan’s efforts to curb terror financing and the steps taken by Pakistan for prevention of such transactions. The APG will scrutinize the report submitted by Pakistan and the result of this would matter greatly in the upcoming meet of the FATF with Pakistan’s officials in October.

Complying with the conditions of the APG, the authorities in Pakistan have made it mandatory to provide a copy of CNIC on every transaction greater than Rs50,000.

Although Pakistan is positive that it’s name would be removed from the grey list, the Indian news broadcaster ‘India Today’ said that the president of the FATF has said that, “blacklisting of Pakistan is absolutely a possibility.”

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