FATF subgroup puts Pak on blacklist

The Asia-Pacific Group, a regional affiliate of the Financial Action Task Force (FATF), has placed Pakistan in the Enhanced Expedited Follow Up List (Blacklist) for its failure to meet its standards.

In its 22nd Annual Meeting held in Canberra, the APG found that Pakistan was non-compliant on 32 of the 40 compliance parameters of terror financing and money laundering, officials said.

The FATF APG discussions lasted over seven hours over two days.

Out of 11 effectiveness parameters, Pakistan scored low on 10.