Asia-Pacific Group (APG) on Money Laundering retains Pakistan on its ‘Enhanced Follow-Up’ list.
- Posted By
14th Oct, 2020
- Due to Pakistan’s minimal progress in combating money laundering and terror financing, the Asia-Pacific Group (APG) on Money Laundering has retained the country on its ‘Enhanced Follow-Up’ list.
- According to APG, Pakistan will remain in the enhanced follow-up list. It will also have to continue to report back to the APG on progress to strengthen its implementation of comprehensive measures.
- Pakistan is desperate to move out of ‘grey list’ because its inclusion in the list has severely impacted its economy and image.
- Pakistan was placed in the grey list in June 2018.
- APG is a regional affiliate of the Paris-based Financial Action Task Force (FATF).
- APGSecretariat: Sydney, Australia.
Founded in: 1997 in Bangkok, Thailand.
It currently consists of 41 member jurisdictions in the Asia-Pacific region.